Market News

Midday cash livestock markets

There’s a light direct cash cattle trade underway.  Live deals in parts of the South are at $188, $2 higher than the previous week’s weighted averages.  There are some bids that have surfaced at $190 live and $300 to $302 dressed in the North.  Asking prices have yet to surface.  More business is expected to develop over the balance of the week.

Boxed beef is higher at midday on solid demand for moderate offerings.  Choice is $1.04 higher at $314.48 and Select is $1.04 higher at $303.75.  The Choice/Select spread is $10.73. 

At the Huss Livestock Market in Nebraska, steers 500 to 800 pounds were steady to $5 higher, and heifers 500 to 700 pounds were $6 to $12 higher.  Heifers over 700 pounds were uneven, from $3 lower to $3 higher.  The USDA says demand was good from the buyers in the crowd and online.  Receipts were down on the week and the year.  Feeder supply included 43% steers and 80% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 625 pounds brought $316.50 to $324 and feeder steers 800 to 838 pounds brought $248 to $249.  Medium and Large 1 feeder heifers 600 to 633 pounds brought $273 to $285.50 and feeder heifers 655 to 691 pounds brought $254 to $266.50. 

Cash hogs are weak at midday with moderate negotiated purchases.  The cash hog market has continued its improvements as processors have been aggressive in their procurement efforts.  The industry continues to monitor hog weights, the availability of market-ready hogs, and the overall demand picture. This week’s export sales report for showed continue strong global demand for US pork.  That helps provide price support.  Domestic demand has been showing some strength as well. Barrows and gilts at the National Daily Direct are $.12 lower with a base range of $74 to $82 and a weighted average of $80.85.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady in Dorchester, WI and Garnavillo, IA at $60 and higher in Red Oak, IA at $52. At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $50 to $62.  Barrows and gilts were steady with moderate demand or moderate offerings at $43 to $53.  Boars ranged from $15 to $25 and $8 to $15. 

Pork values were lower at midday – down $1.67 at $90.51.  Ribs and bellies were both sharply lower.  Loins were lower.  Hams, butts, and picnics were higher.