Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. Business should remain at a standstill, with non-existent packer inquiry and poorly defined asking prices. What asking prices are being reported are around $122+ on the live basis in the South and $192+ on the dressed basis in the North. Widespread trade will likely wait until at least after Wednesday’s Fed Cattle Exchange activity. Monthly USDA livestock slaughter numbers are out Thursday, with cattle on feed and inventory numbers out Friday.

Boxed beef at midday was mixed, with Choice down $.76 at $208.29 and Select up $.08 at $195.89.

At the Oklahoma National Stockyards feeder cattle auction, compared to last week, steers and heifers were $4 to $8 higher. Steer and heifer calves were lightly tested, with a few sales $4 to $10 higher. The USDA says demand was good to very good and quality was mostly average to attractive. 67% of feeders were steers and 85% of the offering weighed more than 600 pounds. 600 to 700 pound feeder steers sold at $158 to $168 with calves at $150 to $163 and 700 to 800 pounders brought $151.50 to $158.50 with calves at $145.50. 600 to 700 pound feeder heifers were reported at $143 to $154 and 700 to 800 pound heifers ranged from $137.50 to $149.

Cash hogs are mostly steady to lower. Pork was down yesterday and cash markets were steady to modestly lower, but negotiated movement was just moderate in most areas. The market’s watching for the expansion of ready numbers and a seasonal top in the wholesale trade. Hog weights are seeing an impact from weather.

Iowa/Southern Minnesota direct barrows and gilts opened $.20 lower at $85 to $86.50 for a weighted average of $86.21, the Western Cornbelt is down $.20 at $81 to $86.50 with an average of $86.12, and national direct business is $.48 lower at $81 to $86.50 for an average of $85.31. The Eastern Cornbelt had no recent comparison with a range of $84.13 to $86 and a weighted average of $84.81. Butcher hogs at the Midwest cash markets are steady to $2 lower at $57 to $62. Missouri direct butchers are steady to $1 higher at $81 to $82 on light to moderate supply and demand. Sows are steady to $3 higher at $48 to $62. Illinois direct sows are weak at $60 to $68 with good demand for moderate to heavy offerings. Barrows and gilts are weak at $57 to $65 with good demand for moderate offerings. Boars range from $10 to $41.

Pork at midday was up $.79 at $104.98. Loins were modestly higher, while butts, bellies, and picnics were up sharply. Ribs and hams were lower.