Market News

Midday cash livestock markets

Direct cash cattle markets are quiet after moderate to fairly active business Wednesday in most of the major feeding areas. The bulk of the trade was done at $115 on the live basis, down $2 to $3 on the week, and $183 to mostly $185 dressed, mostly $2 to as much as $4 lower than Nebraska’s weighted average last week. Given the trade volume, business the rest of the week could be limited to clean up. Asking prices for what’s left on the showlist are expected to be around $116 on the live basis and $185 to $186 dressed.

Boxed beef at midday was mixed. Choice was down $.63 at $201.03 and Select was up $.10 at $196.71.

At the Huss-Platte Valley feeder cattle auction in Nebraska Wednesday, compared to two weeks ago, steers weighing between 750 and 950 pounds were $3 to $4 lower, with not enough heifers to establish an adequate trend. The USDA says demand was good, even with the sharply lower futures trade earlier in the week, and most of the lots of yearling feeders came off of short pastures with average flesh. 87% of the weekly feeder supply were steers and 96% of the total offering weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 830 to 900 pounds ranged from $149.75 to $153 and 900 to 950 pound steers were reported at $144.50 to $149.75. Medium and Large 1 feeder heifers averaging 808 pounds sold at $136.75 and heifers averaging 872 pounds brought $133.50.

Cash hogs are steady to lower. Buyers are trying to follow through on Wednesday, with help from the good processing margins. Saturday’s kill is expected to be around 130,000 head, making up for a slowdown earlier in the week. Both sides of the market continue to monitor the seasonal increase in market ready numbers.

Iowa/Southern Minnesota direct barrows and gilts opened $.74 lower at $77 to $80.50 for a weighted average of $79.72, the Western Cornbelt is down $.67 at $77 to $80.50 with an average of $79.71, and national direct business is $1.07 lower at $76 to $80.50 for an average of $77.91. Butcher hogs at the Midwest cash markets are steady at $51 to $58. Missouri direct butchers are steady at $70 to $73 on light to moderate supply and demand. Sows are steady to $1 lower at $55 to $72. Illinois direct sows are $2 to $4 lower at $58 to $72 on moderate demand for light to moderate offerings. Barrows and gilts are $1 lower at $48 to $55 on moderate demand for moderate supplies. Boars range from $10 to $38.

Pork at midday was up $.40 at $95.46. Bellies, picnics, butts, and ribs were higher, while loins and hams were lower.