Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  Bids and asking prices have yet to surface.  Showlists this week are mixed: higher in Texas, but lower in Kansas, Nebraska, and Colorado. It’s likely significant trade volume is going to hold out until at least midweek or later. 

Boxed beef is mixed at midday with light to moderate demand for solid offerings.  Choice is $.37 higher at $311.26 and Select is $1.52 lower at $300.44.  The Choice/Select spread is $10.82. 

At the Callaway Livestock Center in Missouri, there was a light test of 400 to 500 pounds steer calves which sold with a lower undertone, steers 500 to 700 pounds were steady, steers 700 to 750 pounds were lightly tested, steers 750 to 800 pounds were not well tested, but sold with a firm to higher undertone.  Feeder heifers 400 to 650 pounds were mostly steady on comparable sales.  The USDA says demand was good on the long-time weaned calves and yearlings, with moderate supply.  Overall, the quality was not as deep as it was in recent weeks on calves under 600 pounds.  There were several stand-out sales with a pot-load of yearlings, 771 pounds that brought $271.50, and another weighing 794 pounds that brought $258.50.  Receipts were down on the week but up on the year.  Feeder supply included 61% steers and 50% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 657 to 686 pounds brought $281 to $299.50 and feeder steers 752 to 798 pounds brought $255 to $262.50.  Medium and Large 1 feeder heifers 553 to 561 pounds brought $275 to $295 and feeder heifers 630 to 647 pounds brought $260 to $264.50. 

Cash hogs have no comparison but solid negotiated purchases. The cash hog market continues to find support as packers have been more aggressive in their procurement efforts.  Demand for US pork has been solid on the global market and is finding some strength domestically as well.  All eyes are on this week’s Quarterly Hogs and Pigs report, specifically paying attention to the breeding herd and probably watching production efficiency.  Meanwhile, the industry continues to monitor the availability of market-ready hogs and hog weights, along with the inconsistent movement of pork values. Barrows and gilts at the National Daily Direct had a base range of $75 to $83, with a weighted average of $81.02.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. 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 for moderate offerings at $43 to $53.  Boars ranged from $15 to $25 and $8 to $15. 

Pork values were weak at midday – down $.22 at $95.52.  Bellies were sharply lower.  Butts were lower.  Picnics, loins, ribs, and hams were higher.