Market News

Midday cash livestock markets

Direct cash cattle markets are quiet, with widespread business likely wrapped up for the week. Some cleanup trade is possible after the light to moderate activity on Wednesday and Thursday, with asking prices of $184+ on the live basis and $292+ dressed. Most of this week’s business has been at $183 live, steady with the previous week’s weighted averages, and $290 dressed, $2 lower. A few of those live sales Thursday did hit $184.

Boxed beef at midday was higher with light to moderate movement. Choice was up $1.91 at $306.11 and Select beef was $1.81 higher at $295.99 for a spread of $10.12.

At the Winter Livestock feeder cattle sale in Kansas, compared to the previous week, heifers and steers weighing more than 600 pounds were unevenly steady, while one load of fancy 6-weight steers was $20 higher and heifer calves weighing less than 500 pounds were up $10. The USDA says buyer attendance and demand were good. 75% of the feeder offering were steers and 92% of call feeder cattle weighed more than 600 pounds. Receipts were up on the week and the year. Medium and Large 1 feeder steers weighing 700 to 800 pounds were reported at $246.10 to $271.50 and 800-to-900-pound steers sold at $220.25 to $251. Medium and Large 1 feeder heifers weighing 650 to 750 pounds were reported at $231.50 to $250 and 750-to-850-pound heifers brought $211 to $236.

Cash hogs are quietly steady with light opening negotiated numbers at the major direct markets. It looks like most buyers have the needed numbers in hand and will look to save some money where possible. Export demand is solid and wholesale pork demand continues to hold up relatively well, even with the week’s mixed trend. There have been some wide swings in the individual pork primals this week, especially bellies.

National direct barrows and gilts were had no recent comparison with a base price range of $67.50 to $74.50 for a weighted average of $71.42, while the Eastern Corn Belt also had no recent comparison with an average of $70.11. The five-day rolling average for Iowa/Southern Minnesota is $71.09 and the average for the Western Corn Belt is $70.52. Midwest butcher hog markets are closed. Illinois direct sows are steady at $42 to $54 on moderate demand for moderate to heavy offerings. Barrows and gilts are steady at $40 to $50 with moderate demand and offerings. Boars range from $8 to $25.

Pork at midday was up $5.32 at $95.54. Butts, picnics, ribs, hams, and bellies were modestly to sharply higher, including a $25.97 gain in bellies, while loins were weak.