Market News

Midday cash livestock markets

It’s a quiet start to the week for direct cash cattle business.  Bids and asking prices have yet to surface as buyers and sellers are busy taking inventory and collecting showlists.  Significant trade volume will likely be delayed until midweek or later.  Dressed deals in the North had a full range of $280 to $287, mostly $285 to $286, $4 to $5 higher than the last week’s weighted averages.  Southern live deals had a range of $170 to $174, mostly $171, compared to the previous week, that’s about steady in Kansas and $1 higher than Texas. 

Boxed beef is higher and sharply higher at midday with solid demand for light offerings.  Choice is $1.09 higher at $305.02 and Select is $3.52 higher at $288.44.  The Choice/Select spread is $16.58. 

In Missouri last week, feeders were $5 to $10 higher, and heifers were steady to $5 higher.  The USDA says the supply was moderate to heavy and demand was good.  The price for cull cows has jumped recently.  Farmers spent much of last week making hay.  Receipts were down on the week and up on the year.  Feeder supply included 48% steers and 38% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 549 pounds brought $225 to $294.25 and feeder steers 600 to 649 pounds brought $210 to $261.50. 

Cash hogs had no comparison at midday with moderate negotiated purchases.  The cash hog market was sluggish ahead of the long holiday weekend and it looks like that is carrying over into this week.  Supplies of market-ready hogs are ample, allowing processors to move needed numbers without having to get aggressive in their procurement efforts.  That’s also been adding some pressure to prices. Domestic demand has been a concern as retail prices have not reflected the decline in market prices.  The industry is monitoring the demand for U.S. pork on the global market. Barrows and gilts at the National Daily Direct had a base range of $74 to $81 and a weighted average of $75.11.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $10 to $20.  Barrows and gilts were steady with moderate demand for moderate offerings at $44 to $54.  Boars ranged from $15 to $25 and $5 to $10. 

Pork values are sharply higher at midday – up $4.71 at $86.91.  Bellies jumped more than $20 to start the day.  Hams, ribs, picnics, and loins were all higher.  Butts were lower. 

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