Market News

Midday cash livestock markets

Direct cash cattle trade has been sluggish on Friday. Asking prices for cattle left on showlists are around $172 in the South and $272 in the North. It appears the bulk of business is essentially done for the week, but a little cleanup here and there is not out of the question. Most of this week’s business came on Wednesday where live trade in the South was at $171, $3 lower than last week’s weighted averages. Northern dressed deals were reported at mostly $271, $4 lower than the previous week.

Boxed beef was mixed at midday. Choice was down $1.54 at $288.30 and Select was up $.08 at $258.91. The Choice/Select spread was $29.39.

At the Ogallala Livestock Auction in Nebraska, steers under 500 pounds sold $10 higher compared to the most recent sale. Heifer calves were $7 to $10 higher with yearling weight heifers $6 lower. USDA says the market was active with in-house and online bidding. Feeder supply included 73% steers and 21% of the offering was over 600 pounds. Medium and Large 1 feeder steers 381 to 393 pounds brought $336 to $352.50. Medium and Large 1 feeder heifers 557 to 575 pounds sold for $246 .50 to $265.

Cash hogs are steady to lower with a light opening negotiated run at the major direct markets. After a brief pop around midweek, it looks like most buyers have moved the needed numbers and have gone back to using those ready numbers and demand questions for leverage. Additionally, average hog weights have trended higher in recent months, putting significantly more tonnage on the market.

Barrows and gilts at the National Daily Direct were down $1.33 with a base range of $49 to $54 and weighted average price of $52.59. The five-day rolling average is $54.46.

Butcher hogs at the Dorchester, Wisconsin and Garnavillo, Iowa markets are steady at $50; sows are steady at $36 to $39; boars are $10-$16. At Illinois, slaughter sow prices are steady at $36 to $48; boars are $5 to $21.

Pork values were steady to higher at midday – up $3.03 at $86.40. Hams, ribs, picnics, and butts were higher. Loins and bellies were lower.

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