Market News

Midday cash livestock markets

Direct cash cattle trade is at a standstill with action limited to the distribution of new showlists.  Showlists appear to be mixed – larger in Texas, smaller in Nebraska and Kansas, and unchanged in Colorado.  Overall the offering looks smaller than last week.  This week’s trade will likely follow last week’s suit and be postponed until Wednesday – or later.  The Cattle on Feed report comes out on Friday.

Boxed beef cutouts are weak with light box movement.  Choice is down $.78 at $193.51 and Select is down $.06 at $192.44.

Weekly trade in South Dakota was down almost 3,000 head on the week.  Feeder steers and heifers traded $2.00 to $5.00 lower.  The USDA says there was a good demand for yearling steers and heifers and a limited offering of feeder cattle across the state as most auctions are still operating on their summer schedules.  Competition is fierce and cattle feeders are battling each other to get their pins filled.  Pressure from the futures complex is making the cash trade even more difficult right now.  Medium and Large 1 steers 850 to 900 pounds were at $135.25 and $152.72 and Medium and Large 2 steers 900 to 950 brought $135.25 to $147.30.  Fleshy steers weighing 922 pounds brought $135.25 and thinly fleshed steers 912 to 928 pounds brought $146.25 to $149.25.  Medium and Large 1 heifers 900 to 950 pounds brought $126.50 to $136.50 and Medium and Large 1 heifers 958 pounds to 1000 pounds brought $123.00 to $131.85.

Cash hog trade is mixed at the midday.  The trend depends on packer demand.  Barrows and gilts at the Iowa/Southern Minnesota are $.53 higher with a range of $68.00 to $74.00 and an average of $73.74; the Western Corn Belt is $.33 higher with a range of $68.00 to $74.00 and an average of $73.65; the Eastern Corn Belt is not reported due to confidentiality; and at the National Daily Direct trade is $.88 lower with a range of $68.00 to $74.00 and an average of $72.48.

Butcher hogs at the Midwest cash markets opened $4 lower at $50.00.

Pork cutout is up $.62 at the midday at $90.76 on support from the picnic, rib, and belly.

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