Market News

Midday cash livestock markets

Direct cash cattle markets are at a standstill and will likely stay that way until at least Wednesday, after the Fed Cattle Exchange activity. This week’s showlist is generally smaller than last week, except for Texas. Buyers will also be keeping an eye on futures and wholesale business. Asking prices are expected to be around $120 to $122 on the live basis in the South and $190 to $192+ on the dressed basis in the North. Packer inquiry is still pretty much nonexistent.

Boxed beef at midday was lower. Choice was down $1.86 at $215.68 and Select was $.81 lower at $201.86.

At the Oklahoma National Stockyards in Oklahoma City this week, compared to two weeks ago, feeder steers and heifers were steady to $2 lower. Steer and heifer calves were lightly tested, with steers steady to $4 lower and heifers unevenly steady. The USDA says demand was moderate and the quality was mostly plain to average. The USDA says 57% of the feeder run were steers and 72% of the offering weighed more than 600 pounds. 600 to 700 pound feeder steers sold at $155 to $156, with calves at $147 to $155, and 700 to 800 pound steers brought $148 to $157, with calves at $140 to $149. 600 to 700 pound feeder heifers were reported at $139.75 to $147.50, with calves at $137 to $142, and 700 to 800 pound heifers ranged from $130 to $139.50.

Cash hogs are steady to modestly lower. Near term, market ready numbers remain tight, but it looks like buyers are able to move the needed numbers early this week and expansion is expected to get under way within the next few weeks, either late this month or in early August. This week’s slaughter is expected to fall just short of 2.2 million head.

Iowa/Southern Minnesota direct barrows and gilts opened $.67 lower at $82 to $87.50 for a weighted average of $86.98, the Western Cornbelt is down $.64 at $82 to $87.50 with an average of $86.97, and national direct business is $.82 lower at $82 to $87.50 for an average of $85.69. Butcher hogs at the Midwest cash markets are steady at $57 to $65. Missouri direct butchers are steady at $81 on light to moderate supply and demand. Sows are steady at $40 to $57. Illinois direct sows are $1 higher at $54 to $66 on very good demand for heavy offerings. Barrows and gilts are $1 higher at $57 to $63 with good demand for heavy offerings. Illinois boars range from $10 to $45.

Pork at midday was up $.29 at $105.22. Loins, picnics, and ribs were up, while butts, hams, and bellies were down.