Market News

Midday cash livestock markets

 

Direct cash cattle markets are at a standstill. Asking prices are scattered at $120 live with a handful of bids at $116 in Kansas, and this week’s showlist looks larger than last week, especially in Texas. When business starts this week will depend on packer demand, basis levels, and activity on the futures market. Wholesale trade has been broadly mixed, but out-front sales have been strong, in anticipation of better demand. The offering for Wednesday’s Fed Cattle Exchange event is 3,931 head, the largest in a while.

Boxed beef at midday was mixed with moderate movement. Choice was up $.10 at $215.14 and Select was down $.82 at $202.32.

At the Joplin Regional Stockyards feeder cattle sale in Missouri Monday, compared to the lighter test a week ago, steer and heifer calves were steady to $3 higher. Yearling heifers were steady to $3 higher and yearling steers were $2 to $4 higher. The USDA says demand was moderate to good for a light to moderate supply. Medium and Large 1 feeder steers weighing 400 to 500 pounds were reported at $174 to $199 and 500 to 600-pound steers brought $160 to $177. Medium and Large 1 feeder heifers weighing 400 to 500 pounds sold at $147 to $162.50 and 500 to 600-pound heifers ranged from $143 to $155.

Cash hogs are steady to lower, with light to moderate opening negotiated numbers for the major direct markets. The ready numbers are starting to show some signs of getting tighter, but the weekly kill is still projected at around 2.4 million head. No new NAFTA deal is expected to come out of the Summit of the Americas, but talks are expected to set the stage for more discussions in the coming weeks.

Pork at midday was up $1.19 at $67.81. The belly primal was modestly lower, while the other cuts were firm to sharply higher, including a $2.64 gain in picnics.

Western Cornbelt direct barrows and gilts opened $1.63 lower at $43 to $45 for a weighted average of $44.63 and national direct business is down $.85 at $43 to $45 with an average of $44.86. Iowa/Southern Minnesota and the Eastern Cornbelt were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $30. Missouri direct butchers are steady at $40 on light to moderate supply and demand. Sows are steady to $2 higher at $23 to $37. Illinois direct sows are steady at $26 to $40 on moderate demand for heavy offerings. Barrows and gilts are steady at $24 to $32 on moderate demand for moderate offerings. Boars range from $8 to $17.