Market News

Midday cash livestock markets

Cash cattle country has a few bids on the table in Nebraska, but they are $4 below current asking prices. Those bids have been passed. Asking prices are around $184-plus in the South and $292-plus in the North. The USDA says beef export sales of 12,600 tons were below the previous week, primarily to Japan, South Korea, and Mexico. The USDA’s Cattle on Feed report is out at 3 Eastern/2 Central.

Boxed beef was higher at midday with Choice up $1.42 at $301.21 and Select up $1.61 at $287.42. The Choice/Select spread was $13.79.

At Mitchell Livestock Auction in South Dakota, feeder steers 600 to 850 pounds trended steady to $2 higher compared to the most recent sale. Feeder heifers above 600 pounds were $6 to $11 higher. USDA says demand was very good for many large strings of feeders. Feeder supply included 63% steers and 93% of the offering was over 600 pounds. Medium and Large 1 feeder steers 706 to 740 pounds brought $260 to $279.25 and feeder steers 850 to 897 pounds sold for $238.25 to $250.25. Medium and Large 1 feeder heifers 652 to 693 pounds brought $240.50 to $254 and feeder heifers 807 to 837 pounds sold for $217.50 to $230.25.

Cash hogs are steady to lower with light opening negotiated numbers at the major direct markets. It looks like most buyers have the needed near-term numbers in hand after the higher trade and improved movement Wednesday and Thursday but some will still look to save money where they can. Wholesale demand continues to hold up relatively well. The USDA says pork export sales of 28,900 tons were down on the week, mainly to Mexico and Japan. The USDA’s monthly Cold Storage report is out at 3 Eastern/2 Central.

Barrows and gilts at the National Daily Direct were down $1.71 with a base range of $66 to $74 and weighted average price of $71.59. The Iowa/Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady at $50; slaughter sows are steady at $39 to $42; boars are marked at $14. At Illinois, slaughter sow prices are steady with moderate demand for heavy offerings at $38 to $50; barrows and gilts are steady with moderate demand for moderate offerings at $37 to $47; boars are priced at $8 to $25.

Pork values were steady to higher at midday – up $.37 at $92.26. Loins, butts, picnics, ribs, and hams were all higher. Bellies were sharply lower – down $10.03 at $123.22.