Market News

Midday cash livestock markets

After light trade yesterday in the North, direct cattle markets are quiet ahead of widespread business. Packer inquiry has improved with bids at $114 to mostly $115 Live and $183 Dressed. Asking prices are holding at $120 Live and $190 Dressed. Given the distance between bids and asking prices, widespread trade could be delayed until Thursday or Friday. The trade that occurred yesterday in Nebraska and Iowa was at $115 Live and $184 Dressed.

Boxed beef at midday was firm to higher. Choice was up $.21 at $200.60 and Select was $.88 higher at $194.54.

At the Kingdom City Livestock Center in Missouri, steer calves weighing less than 600 pounds were steady to firm, with spots weighing 550600 $5 higher. 650 to 700 pound steers were steady to $5 lower with 750 to 800 pound yearling steers mostly steady to firm on comparable sales. Feeder heifers less than 500 pounds were steady to firm, 550 to 600 pound heifer calves were mostly $5 to $8 lower, and 600 to 650 pound heifers were steady to weak. Demand was moderate to good and most feeder cattle weighed 500 to 750 pounds. Receipts of 1,491 head were down a little on the week and up a little on the year. 500 to 600 pound feeder steers ranged from $162 to $183.75. 400 to 500 pound feeder heifers sold at $156.50 to $172.

Cash hog markets are mixed. Buyers continue to pull market ready numbers ahead and while there’s plenty of pork available, Pork Month is coming up in October. For the week ending August 20th, the average Iowa/Southern Minnesota hog weight of 274.7 pounds was up a tenth of a pound on the week, but down 2.5 on the year. Iowa/Southern Minnesota barrows and gilts opened $.77 lower with a weighted average of $62.43, the Western Cornbelt is down $.76 at $62.43, and national direct trade is $1.04 lower at $61.70. Butcher hogs at the Midwest cash market are steady to $1 higher at $37 to $41. Missouri direct butchers are steady at $54 to $60 on light to moderate supply and demand. Missouri sows are steady to $2 higher at $40 to $51. Illinois direct sows are mostly steady at $42 to 55, with boars ranging from $11 to $25.

The pork carcass cutout value at midday was up $.22 at $75.93. Ribs were down sharply, all other primals were firm to higher.

The USDA’s red meat production numbers are out Thursday at 3 PM Eastern/2 PM Central.