Market News

Midday cash livestock markets

The major direct cattle feeding areas are quiet. There could still be some clean-up, but after the light activity Wednesday and moderate business Thursday, most of the week’s trade is probably done. Trade Thursday was mostly at $102 live in the South, down $1 to $2 on the week, and $159 to $160 dressed in the North, $2 to $3 lower. DTN says trade volume totals were stronger than expected in the North and a little smaller than anticipated in Kansas and Texas. Asking prices for what’s left on the showlist are $103+ live and $162 dressed.

Boxed beef at midday was mixed. Choice was up $.04 at $183.52 and Select was down $.14 at $174.92.

This week at the Oklahoma City Stockyards, feeder steers and heifers were $4 to $8 lower than the previous week with animals weighing more than 900 pounds as much as $12 lower. Steer and heifer calves were $10 to $15 lower. Demand was called moderate for all classes. 63% of the feeder supply was steers and 60% weighed more than 600 pounds. 700 to 800 pound feeder steers brought $122.50 to $135. 600 to 700 pound heifers ranged from $123.50 to $128.

Cash hogs are steady to lower. The market firmed up a little yesterday, but packers have put another round of mostly lower bids on the table. Market ready numbers are ample and even if processing margins have tightened, they’re still good enough to keep chain speed at high levels. Saturday’s kill is expected to about 250,000 head.

Iowa/Southern Minnesota barrows and gilts opened $1.28 lower at $45 to $46.50 for a weighted average of $45.50, the Western Cornbelt is down $1.34 at $43 to $46.50 with an average of $45.41, and national direct trade is $1.10 lower at $43 to $46 for an average of $45.22. The Eastern Cornbelt was not reported due to confidentiality. The butcher hog market at Peoria, Illinois is $2 lower at $24 to $26. Missouri direct butcher trade is steady to $2 lower at $40 to $44 on light to moderate supply and demand. Sows are steady to $1 lower at $21 to $30.

The pork cutout at midday was down $.03 at $72.13. Hams and picnics were up, all other primals were lower.

Pork and beef are waiting to see the impact on meat demand from Hurricane Matthew.