Market News

Midday cash livestock markets

 

Direct cash cattle markets are quiet so far. Some very light trade connected to the Fed Cattle Exchange was reported yesterday at $126 live in Texas. Asking prices have been renewed at $129 to $130 live and $203 to $204 dressed with scattered bids at $124 live and $196 to $198 dressed. Buyers and sellers will be watching CME and wholesale business. Weekly beef exports were 18,500 tons, mainly to Japan and Taiwan.

Boxed beef at midday was mixed. Choice was down $.33 at $209.04 and Select was up $1.01 at $204.15.

At the Hub City Livestock Auction feeder cattle sale in South Dakota Wednesday, compared to the previous week, steers and heifers were mixed. The USDA says it was an active market, with good to very good demand for a large offering with many packages, strings, and loads. Flesh conditions ranged from light to heavy. Medium and Large 1 feeder steers weighing 800 to 900 pounds were reported at $138.10 to $151 and 900 to 1,000 pound steers sold at $137.75 to $146.50. Medium and Large 1 feeder heifers weighing 600 to 700 pounds ranged from $140.25 to $168 and 700 to 800 pound heifers brought $132.50 to $149.25. A load of 95 heifers averaging 703 pounds had a weighted average of $1,070.87 per head.

Cash hogs are steady to lower, with light negotiated sales at the major direct markets. Market ready numbers appear to be tightening along seasonal lines, with Saturday’s kill projected at 85,000 head, but there’s a lot of pork available. The USDA’s next round of cold storage and livestock slaughter numbers are on the 22nd. Weekly pork exports were down from recent weeks at 12,700 tons. Mexico, Japan, Canada, and Hong Kong each bought at least 2,000 tons.

Pork at midday was $.33 lower at $77.01. Loins, ribs, and bellies were lower, while butts, picnics, and hams were higher.

Iowa/Southern Minnesota direct barrows and gilts opened $1.11 lower at $63 to $72.50 for a weighted average of $70.14, the Western Cornbelt is down $1.20 at $62 to $72.50 with an average of $69.87, and national direct business is $.48 lower at $62 to $72.50 for an average of $70.37. Butcher hogs at the Midwest cash markets are steady at $45 to $48. Missouri direct butchers are steady at $66 to $67 on light to moderate supply and demand. Sows are steady at $36 to $50.