Market News

Midday cash livestock markets

Direct cash cattle markets are essentially at a standstill. There are a few bids at $270 on the dressed basis in Nebraska, but otherwise, the major feeding areas remain quiet, with no reported asking prices. Packer inquiry should continue to improve with widespread business not expected until Thursday. This week’s show list is mixed, somewhat larger in Nebraska and Colorado, smaller in Texas, and about steady in Kansas.

Boxed beef at midday was mixed at midday with light movement. Choice was down $1.72 at $291.59 and Select beef was up $.13 at $261.32.

In Kansas last week, compared to the week before that, all feeder steers were $1 to $6 higher, with feeder heifers weighing less than 700 pounds also $1 to $6 higher, while feeder heifers weighing more than 700 pounds were $1 to $6 lower. The USDA says demand was good across the state with receipts down on the week, but up on the year. 62% of the feeder offering were steers and 67% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 600 to 700 pounds were reported at $237 to $281.25 and 800-to-900-pound steers brought $210.25 to $231.75. Medium and Large 1 feeder heifers weighing 600 to 700 pounds sold at $201 to $251 and 700-to-800-pound heifers ranged from $191 to $225.

Cash hogs are steady with moderate opening negotiated numbers at the major direct markets. It looks like another round of fairly quiet holiday type business with buyers holding plenty of leverage and both sides keeping an eye on demand ahead another slow week next week. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area last week was 289.3 pounds, down 0.4 on the week, but up 6.1 on the year.

National direct barrows and gilts were not reported due to confidentiality, with a base price range of $40 to $48 for a weighted average of $46.19. The Eastern Corn Belt had no recent comparison with an average of $45.26. Iowa/Southern Minnesota and the Western Corn Belt were not reported due to confidentiality.

Midwest butcher hogs are steady at $44. Illinois direct sows are steady at $28 to $40 on moderate demand and offerings. Barrows and gilts are steady at $25 to $35 with moderate demand for moderate offerings. Boars range from $5 to $20.

Pork at midday was up $1.05 at $83.17. Butts, picnics, ribs, and hams were higher, with loins weak and bellies sharply lower.