Market News

Midday cash livestock markets

Direct cash cattle trade is off to a typically quiet start on Monday. A light to moderate trade took place last week. Activity started on Wednesday and went through Friday with the bulk of sales occurring on Thursday. Northern dressed deals had a full range of $285 to $293, generally steady with the prior week’s weighted averages. Southern live business ranged from $182 to $186, steady with the previous week.

Boxed beef is mixed at midday. Choice is $1.93 lower at $301.40 and Select is up $1.19 at $281.62. The Choice/Select spread is $19.78.

According to the Missouri Weekly Cattle Auction Summary, feeders across the state sold mostly steady last week with some spots $5 higher. USDA says discounts for unweaned and/or unvaccinated calves continues to be significant. This is resulting in some wide price differences between those calves that are highly desirable and those that come with a lot of risk. Load lots of yearlings continue to show gains and set new price records. USDA says the supply of feeders was moderate, but varied from very light to heavy between individual barns across the state. A stick out sale last week included a load of 572 pound steers at Callaway Livestock Center at $315, as well as a record setting load of 906 pound steers which sold for $251.10.

Cash hogs are a penny to $3 lower with a light opening negotiated run at the major direct markets. Business has started this week under pressure after most buyers were able to move solid near-term numbers last week. The industry continues to assess domestic consumer demand and the availability of market ready supplies. The USDA’s Quarterly Hogs and Pigs report is out Thursday afternoon with the breeding inventory category expected to draw a lot of attention.

Barrows and gilts at the National Daily Direct were $.01 lower with a base range of $75 to $79 and weighted average of $77.94. The Iowa/Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs at the Dorchester, Wisconsin markets are $3 lower at $55. Slaughter sows are $3 lower at $27 to $30 and boars are marked at $10.

Pork values are higher at midday – up $2.96 at $100.22. Bellies are sharply higher. Ribs and loins are higher. Hams, picnics, and butts are lower.