Market News

Midday cash livestock markets

Cash cattle country is off to its usual quiet start on Monday with no bids or asking prices on the table. Last week, cash business started to develop just before the noon hour on Friday and it continued through the afternoon with Southern live deals marked at mostly $183, $3 higher than the previous week. Northern dressed sales had a full range of $283 to $293, $4 higher than the week prior.

Boxed beef was higher at midday with Choice up $1.45 at $302.06 and Select up $1.81 at $288.12. The Choice/Select spread was $13.94.

According to the Missouri Weekly Cattle Auction Summary, feeders across the state sold $2 to $8 higher last week with another big run at the barns. USDA says the Joplin Regional Stockyards broke their one-day all-time record volume again after doing so just few weeks prior. Demand remains very good across Missouri as buyers continue to pay more each week for cattle. Statewide feeder supply included 53% steers and 57% of offerings were over 600 pounds. Medium and Large 1 feeder steers 600 to 649 pounds brought $250 to $310. Medium and Large 1 feeder heifers 650 to 699 pounds sold for $225 to $271.

Cash hogs were mixed at midday with very light opening negotiated movement at the major direct markets. It looks like some buyers have started the week in need of some near-term market ready numbers. If the past few weeks are any indication, the higher bids and increased movement at the major direct markets might not get underway until midweek. Weather could cause movement issues in some areas Wednesday. The USDA’s monthly Cold Storage report, delayed by technical issues Friday, is out this afternoon at 3 Eastern/2 Central.

Barrows and gilts at the National Daily Direct were down $1.50 with a base range of $69 to $72 and weighted average price of $70.09. The Iowa/Minnesota, Western Corn Belt and Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are trending $5 higher at $55; slaughter sows are $3 higher at $42 to $45; boars are marked at $15. At Illinois, slaughter sows are up $1 at $39 to $51; barrows and gilts are mostly steady at $37 to $47; boars are priced at $8 to $25.

Pork values were steady to higher at midday – up $2.32 at $93.48. Bellies were sharply higher – up $18.99 at $142.88. Ribs, picnics, and butts were higher. Hams and loins were lower.