Market News

Midday cash livestock markets

Direct cash cattle trade activity has picked up with a handful of deals reported in Kansas at $185.  Live bids in other parts of the south are at $184 to $185 and in the North at $296 dressed.  More trade may develop as the day progresses, but significant volumes could easily hold out until sometime Thursday or Friday. 

Boxed beef is lower at midday on light demand for heavy offerings.  Choice is $1.22 lower at $309.87 and Select is $1.05 lower at $299.21.  The Choice/Select spread is $10.66. 

At the Kingsville Livestock Auction in Missouri, steer and heifer calves were $5 to $15 lower and yearlings were $3 to $7 lower.  The USDA says markets hit a bump in the road, likely due to outside pressures.  There was a nice run of yearlings on hand, with the majority offered in load lots.  Some new crop calves were also offered; the quality was good, but several were pretty soft and carrying some flesh.  Both supply and demand were moderate.  Receipts were down on the week but up on the year.  Feeder supply included 47% steers and 55% of the offering was over 600 pounds. Medium and Large 1 feeder steers 552 to 599 pounds brought $288 to $310 and feeder steers 818 to 824 pounds brought $240.75 to $244.  Medium and Large 1 feeder heifers  605 to 644 pounds brought $245 to $257 and feeder heifers 701 to 746 pounds brought $242.25 to $252.   

Cash hogs are lower at midday with fairly light negotiated purchases. Processors have pulled back some in their procurement efforts and aren’t bidding up to move needed numbers.  Demand for US pork on the global market and some rebound to domestic demand has been a bright spot.  The industry is looking to tomorrow’s Quarterly Hogs and Pigs report – specifically focusing on production efficiency.  It’s also continuing to monitor available supplies of market-ready hogs, hog weights, which were up slightly on the week and down slightly on the year. Barrows and gilts at the National Daily Direct are $1.00 lower with a base range of $76 to $83 and a weighted average of $80.02; no comparison at the Iowa/Minnesota or the Western Corn Belt, but weighted averages of $80.76 and $80.03.  Prices at the Eastern Corn Belt

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were steady with moderate demand for 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 lower at midday – down $.60 at $94.73.  Loins, picnics, hams, and butts were lower.  Bellies and ribs were higher.