Market News

Midday cash livestock markets

Light to moderate direct cash cattle business is underway in parts of the North. Sales are being reported at $188 on the dressed basis, down about $2 from last week’s weighted average in Nebraska, with a few sales at $117 live in western Nebraska, also about $2 lower than a week ago. Business in the South has yet to get started. Asking prices today are $120 live and $192 dressed with bids at $117 live and $186 to $187 dressed. Some extremely light trade was reported Tuesday afternoon in the North at $118 on the live basis and $188 dressed.

This week’s offering at the Fed Cattle Exchange was 2,119 head, 772 sold, with a weighted average of $117.68, down $.59 on the week. Sales of 403 head for 1 to 9 day delivery averaged $117.72, $.58 lower, and sales of 369 head for 1 to 17 day delivery averaged $117.63, down $.37. The next event is scheduled Wednesday, August 2nd.

Boxed beef at midday was modestly lower. Choice was down $.07 at $207.55 and Select was $.59 lower at $198.34.

At the Philip Livestock Auction feeder cattle sale in South Dakota, there was no comparison because of seasonally slow activity and no recent sales. The USDA says the market was active and demand was very good for several long strings, load lots, and packages of feeder steers and heifers, along with tested open heifers. Cattle off of grass had light to moderate flesh and some of the cattle coming out of the feedyards had heavy flesh. 80% of the weekly offering were feeder cattle, along with some cow/calf pairs, slaughter cows, and bulls. 67% of the feeder cattle run were steers and 98% weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 815 to 900 pounds were reported at 151.50 to $160.75 and 900 to 990 pound steers brought $142.75 to $153.50 with a load of fleshy steers averaging 930 pounds at $141.75 to $145.75. A group of Large 1 feeder steers averaging 1,025 pounds sold at $140 to $144. Medium and Large 1 feeder heifers weighing 800 to 830 ranged from $143 to $149 and 910 to 945 pounders brought $138 to $142.25.

Cash hogs are steady to lower. Buyers are continuing to watch for a seasonal increase in market ready numbers with this week’s slaughter expected to be about steady with last week at more than 2.2 million head. Business could firm up later this week if buyers are unable to move the needed numbers. The average Iowa/Southern Minnesota hog weight for the week ending July 22nd was 275.7 pounds, down 1.1 on the week and 1.6 on the year.

Iowa/Southern Minnesota direct barrows and gilts opened $.28 lower at $82.50 to $82.75 for a weighted average of $82.51, the Western Cornbelt is down $.26 at $77 to $82.75 with an average of $82.46, and national direct business is $.53 lower at $77 to $82.75 for an average of $81.54. Butcher hogs at the Midwest cash markets are steady at $54 to $66. Missouri direct butcher trade is steady to $1 lower at $77 to $78 on light to moderate supply and demand. Sows are steady to $2 higher at $54 to $68. Illinois direct sows are firm at $61 to $72 on very good demand for heavy offerings. Barrows and gilts are weak at $54 to $59 with moderate demand for moderate offerings. Boars range from $10 to $38.

Pork at midday was $.42 higher at $102.82. Bellies jumped $12.58 higher and hams were up $1.46, cancelling out weak to sharply lower moves in the other primals.

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