Market News

Midday cash livestock markets

Direct cash cattle trade is off to a quiet start on Wednesday. It’s looking like business will be delayed again this week until Thursday or Friday. Asking prices are around $185 to $186 in the South, but still not established in the North.

Boxed beef is lower at midday. Choice is $.78 lower at $301.34 and Select is down $1.87 at $279.91. The Choice/Select spread is $21.43.

At the Ozark Regional Stockyards in Missouri, feeder steers and heifers over 700 pounds sold $3 to $4 higher compared to the most recent sale. Steer and heifer calves sold $4 to $8 higher. USDA says demand was very good on a moderate supply, and quality was above average with several groups of 100-plus head. Feeder supply included 49% steers and 46% of the offering was over 600 pounds. Medium and Large 1 feeder steers 503 to 535 pounds brought $294 to $313 and feeder steers 703 to 746 pounds brought $259 to $272. Medium and Large 1 feeder heifers 662 to 690 pounds brought $244 to $258 and feeder heifers 704 to 746 pounds brought $237 to $239.

Cash hogs are steady to higher with strong opening negotiated movement at the major direct markets. It looks like most buyers needed the near-term ready numbers, encouraged by some signs of improving consumer pork demand with the cutout value recently rising back above $100. The USDA’s weekly export sales numbers, out Thursday morning, will be watched closely. For the week ending September 16th, the average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area was 278.9 pounds, one tenth lighter than the previous week and seven tenths under a year ago.

Barrows and gilts at the National Daily Direct were $1.40 higher with a base range of $75 to $80 and weighted average price of $78.73. The Iowa/Minnesota was up $.97 with a weighted average of $79.26. The Western Corn Belt was $.73 higher with a weighted average of $79.02. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Dorchester, Wisconsin markets were steady at $58. Slaughter sows were steady at $33 to $36. Boars were marked at $12. At Illinois, slaughter sow prices were $1 lower with moderate demand for moderate offerings at $31 to $42; barrows and gilts were steady with moderate demand for moderate offerings at $41 to $51; and boards were $20 to $25 and $10 to $12.

Pork values were steady to lower at midday – down $.03 at $101.10. Bellies and butts were higher. Hams, ribs, picnics, and loins were lower.