Market News

Midday cash livestock markets

Cash cattle country is off to another very slow start on Wednesday. Bids and asking prices have yet to be established. Significant trade volume could be delayed for at least another day.

Boxed beef was mixed at midday. Choice was down $1.60 at $298.78 and Select was $.89 higher at $270.37. The Choice/Select spread is $28.41.

At the Callaway Livestock Center in Missouri, steer calves weighing 400 to 600 pounds sold steady to firm compared to the most recent sale, with spots $5 higher on the five weight steers. Feeder heifers weighing 400 to 450 pounds sold with a steady to firm undertone on last week’s light test. USDA says demand was moderate to good on a heavy offering with a nice quality offering of steer and heifer calves. Feeder supply included 54% steers and 43% of the offering was over 600 pounds. Medium and Large 1 feeder steers 503 to 546 pounds brought $279.50 to $299.75 and feeder steers 661 to 686 pounds sold for $253 to $264. Medium and Large 1 feeder heifers 553 to 593 pounds brought $249 to $259.50 and feeder heifers 684 to 691 pounds sold for $243.50 to $250.25.

Cash hogs are mixed with light opening negotiated numbers at the major direct markets. Some buyers do have near-term needs, but largely appear to be using the leverage from the available market ready numbers and concerns about slowing domestic demand to limit spending. While wholesale pork did start the week on a positive note, it hasn’t been able to find any traction since Monday afternoon. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area for the week ending November 4th was 286.7 pounds, up 1.3 on the week and 3.2 on the year.

Barrows and gilts at the National Daily Direct are down $.16 with a base range of $63 to $71 and weighted average price of $68.62. The Eastern Corn Belt is $.19 lower with a weighted average price of $69.79. The Iowa/Minnesota and Western Corn Belt were not reported due to confidentiality.

Butcher hogs at the Dorchester, Wisconsin markets are trending steady at $55 with 380 head reported; sows are steady at $36 to $42; and boars are $12 to $18.

At Illinois, slaughter sow prices are $1 higher with moderate demand for heavy offerings at $41 to $54; barrows and gilts are steady with moderate demand for moderate offerings at $40 to $50; boars are $18 to $21 and $5 to $10.

Pork values were lower at midday – down $.99 at $86.78. Ribs, picnics, and butts were higher. Bellies, hams, and loins were lower.

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