Market News

Midday cash livestock markets

Direct cash cattle business is starting to develop. There’s light trade at $183 live in the south, up $3 from last week’s weighted average, with dressed sales in the north at $292, steady to $2 higher. Live sales in Nebraska range from $184 to $185. Asking prices are $184+ live and $293+ dressed. Trade will continue to expand as the day goes on. Trade earlier in the week was light and limited to the north mostly at $180 to $185 live and $286 to $290 live.

At the Valentine Livestock Auction in Nebraska, compared to the previous week, 800-pound steers were $9 higher, while 850-to-900-pound steers were steady to $2 lower. There was no trend for heifers due to a lack of comparable offerings. Receipts were below last week and last year. The USDA says demand was good with active bidding from the internet. 80% of the offering were steers and all feeders in the run weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 800 to 900 pounds sold at $254.75 to $280.50 and 900-to-950-pound steers ranged from $250 to $266. Medium and Large 1 feeder heifers were reported at $235.50 to $246 and 925-to-940-pound heifers brought $236.50 to $241.50.

Boxed beef at midday was weak to lower with heavy movement. Choice was down $.01 at $306.36 and Select beef was $2.15 lower at $284.71 for a spread of $21.65.

Cash hogs are steady to lower with light to moderate opening negotiated numbers for the major direct markets. Buyers have generally been able to move the needed numbers with little to no resistance this week. The industry continues to monitor export and domestic demand and the availability of market ready supplies with the USDA’s quarterly inventory report out Thursday, September 28^th.

National direct barrows and gilts opened $.81 lower with a base price range of $73.50 to $80 for a weighted average of $77.51, while the Eastern Corn Belt is down $2.40 at $75.72. The Iowa/Southern Minnesota and Western Corn Belt direct markets were not reported due to confidentiality. Butcher hogs at Dorchester, Wisconsin market were steady at $58.

Pork at midday was down $1.43 at $97.66. Loins, picnics, hams, and bellies were lower, while butts and ribs were higher.