Market News

Midday cash livestock markets

There’s a light to moderate round of direct cash cattle trade underway. Live deals in the South marked at $175 to $178, about $4 higher than the previous week’s weighted averages.  Live deals in the North at $183 to $185.  Dressed deals in the North are marked at $292, about $7 above the previous week’s weighted average basis in Nebraska.  Asking prices have been kept under wraps.  More business is expected to develop over the balance of the week.  There was a very light round of business reported on Wednesday at $280 to $283.

Boxed beef is steady and higher at midday with light to moderate demand for solid offerings.  Choice is $1.23 higher at $307.07 and Select is $.01 higher at $287.16.  The Choice/Select spread is $19.91. 

At the Huss Livestock Market in Nebraska, steers under 600 pounds were $10 to $15 higher.  All weights of heifers were $2 to $10 higher.  The USDA says demand was good on a moderate supply.  Receipts were down from two weeks ago and on the year.  Feeder supply included 50% steers and 83% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 750 to 783 pounds brought $227.25 to $232 and feeder steers 829, fleshy, brought $216.50.  Medium and Large 1 feeder heifers 700 to 746 pounds brought $205 to $210.25 and feeder heifers 801 to 813 pounds brought $208.50 to $217. 

Cash hogs are sharply higher with another huge round of negotiated purchases.  Processors were again aggressive in procurement efforts and bid up to move needed numbers.    Demand for US pork on the global market has been relatively strong and that is helping to provide at least some price support.  The industry is also optimistic domestic demand will see a pop as summer grilling season is in full swing. Barrows and gilts at the National Daily Direct are $5.13 higher with a base range of $79 to $90 with a weighted average of $85.58; the Iowa/Minnesota had no comparison with a weighted average of $87.93; the Western Corn Belt had no comparison with a weighted average of $87.87.  The Eastern Corn Belt was 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 heavy offerings at $10 to $20.  Barrows and gilts were $2 higher with moderate demand for moderate offerings at $46 to $56.  Boars are $15 to $25 and $5 to $10. 

Pork values are higher at midday – up $.35 higher at $85.62.  Hams, butts, picnics, bellies, and ribs are all higher.  Loins are lower.