Midday cash livestock markets
It’s another very quiet day for direct cash cattle business. Showlists this week are mixed – higher in Nebraska/Colorado, somewhat higher in Texas, and lower in Kansas. Bids and asking prices have yet to be established. If business follows the trend of recent weeks, it’s likely any significant trade will be delayed until sometime Thursday or Friday.
Boxed beef is lower at midday on light demand for fairly light offerings. Choice is $.28 lower at $301.20 and Select is $.72 lower at $279.73. The Choice/Select spread is $21.47.
At the Joplin Regional Stockyards in Missouri, feeder steers under 750 pounds were $4 to $8 lower with heavier weights steady. Feeder heifers under 750 pounds were $2 to $4 lower with heavier weights steady. The USDA says supply was moderate with good demand. Receipts were down on the week and up on the year. Feeder supply included 55% steers and 61% of the offering was over 600 pounds. Medium and Large 1 feeder steers 756 to 792 pounds brought $252 to $264.50 and feeder steers 813 to 849 pounds brought $245 to $255. Medium and Large 1 feeder heifers 605 to 648 pounds brought $240 to $264 and feeder heifers 651 to 686 pounds brought $240 to $243.50.
Cash hog prices were not reported at midday due to confidentiality. There were very light negotiated purchases. Processors just aren’t being forced to get aggressive in their procurement efforts right now and prices reflect that. Supplies of market-ready hogs are ample. Demand on the global market is relatively strong, but there are concerns domestic demand could slow as summer grilling season is over. And the industry is looking to this week’s Quarterly Hogs and Pigs report to see how profitability has impacted the herd.
Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were steady with moderate demand for heavy offerings at $28 to $39. Barrows and gilts were steady with moderate demand for moderate offerings at $39 to $49.
Pork values are higher at midday – up $.95 at $99.81. Picnics and hams are higher. Loins are firm. Butts, ribs, and bellies are all lower.