Market News

Midday cash livestock markets

There’s another light round of direct cash cattle trade that’s been reported.  In Nebraska, dressed deals are marked at $275, which is fully steady with Wednesday’s business and $4 below the prior week’s weighted averages.  Live deals are marked at $175.  Some live deals in Kansas are marked at $174, which is in the range of the week’s business and about $3 below the prior week’s business.   

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $.92 higher at $297.95 and Select is $3.20 higher at $267.29.  The Choice/Select spread is $30.66.

At the South Central Regional Stockyards in Missouri, feeder steers and heifers under 550 pounds were steady to $3 higher.  Steers and heifers over 550 pounds were $2 to $8 lower.  The USDA says demand was good and supply was moderate.  The offering consisted of attractive feeders with a lot of good quality weaned calves carrying two rounds of shots.  Receipts were up from two weeks ago and on the year.  Feeder supply included 56% steers, and 44% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 555 to 590 pounds brought $251 to $276, and feeder steers 655 to 690 pounds brought $229.50 to $239.50.  Medium and Large 1 feeder heifers 605 to 640 pounds brought $220 to $229.

Cash hogs are lower at midday with light negotiated purchases.  Processors have been able to move needed numbers without having to get aggressive in their procurement efforts – the ample supplies help with that.  Increased production (heavier hog weights, more supplies) makes it increasingly more difficult to put packers in the position to work hard to do business.  Domestic demand continues its struggles.  And export sales declined this week, bringing into question long-term demand certainty for US pork on the global market. Barrows and gilts at the National Daily Direct are $1.68 lower with a base range of $51 to $62 and a weighted average of $59.75 and the Western Corn Belt has no comparison but a weighted average of $56.30.  Prices at the Iowa/Minnesota were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were $2 lower, with moderate demand for moderate to heavy offerings at $41 to $54.  Barrows and gilts were steady, with moderate demand for moderate offerings at $35 to $45.  Boars ranged from $18 to $21 and $5 to $10. 

Pork values are lower at midday, down $1.25 at $82.72.  Loins, bellis, hams, and butts are all lower.  While picnics and ribs are higher. 

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