Market News

Midday cash livestock markets

It’s another very quiet day for direct cash cattle business.  Bids haven’t surfaced and asking prices are around $185 to $186 live in the South, while the North has been quiet.  It’s likely significant trade volume could hold out until sometime on Friday, especially with the Cattle on Feed numbers out later in the day. 

Boxed beef is mixed at midday on light to moderate demand for fairly light offerings.  Choice is $.08 higher at $301.34 and Select is $.20 lower at $278.48.  The Choice/Select spread is $22.86. 

At the Bassett Livestock Auction in Nebraska, steers 900 pounds were steady to $2 higher.  Steers 950 pounds were $5 lower.  Steers 1000 pounds were steady to $4 higher.  There were limited offerings of most heifers, but heifers 850 pounds were $4 higher.  The UDSA says demand was good with several buyers in seats and online.  Receipts were down from two weeks ago and the year.  Feeder supply included 44% steers and 95% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 921 to 940 pounds brought $260 to $263.50 and feeder steers 1010 to 1040 brought $243.50 to $250. Medium and Large 1 feeder heifers 877 to 886 pounds brought $237.75 to $243.75 and feeder heifers 968 to 974 pounds brought $240.50 to $234. 

Cash hog prices were not reported at midday due to confidentiality, there were very few negotiated purchases.  For much of the week, processors have been more aggressive in their procurement efforts and have bid up to move needed numbers.  They have what’s needed in hand and business the rest of the week could be minimal.  Pork export sales were up significantly on the week, providing some assurance that demand for US pork on the global market remains strong.  The industry continues to monitor the availability of market-ready hogs.

Butcher hog prices at the Midwest cash markets are steady at $58 in Dorchester, Wisconsin and lower in Red Oak, Iowa at $48. 

At Illinois, slaughter sow prices are $2 lower with moderate demand for moderate offerings at $29 to $40. Barrows and gilts are $2 lower with moderate demand for moderate offerings at $39 to $49. Boars ranged from $20 to $25 and $10 to$12. 

Pork values are about steady at midday – down just $.04 at $99.18.  Butts and hams are lower.  Loins, bellies, picnics, and ribs are higher.