Market News

Midday cash livestock markets

Direct cash cattle trade is quiet with today’s focus on the distribution and collection of new showlists.  The majority of last week’s business didn’t happen until Friday and live trade was at mostly $115, nearly $5 higher than the previous week’s weighted average.  Northern dressed trade was around $183, generally $6 higher.  Significant trade volume isn’t expected to happen until the latter part of the week.

Boxed beef cutout values are mixed at the midday, lower on Choice and steady on Select.  Choice down $1.08 at $225.13 and Select is $.16 higher at $203.34.  The Choice/Select spread is $21.79.

At the open, at the Oklahoma National Stockyards, receipts are down on the week, but up for the year.  Feeder steers and heifers are trading $1.00 to $2.00 higher.  Steer and heifer calves are too lightly test in the early rounds, but a higher undertone is noted.  The USDA says demand is good and the quality is average to attractive.  Feeder supply included 7 1percent steers and 84 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 700 to 800 pounds brought $143.00 to $149.00 and steers 900 to 1000 pounds are $120.00 to $132.00.  Medium and Large 1 feeder heifers 600 to 700 pounds brought $138.00 to $150.00 and

Cash hogs were called $1 to $2 higher.  Tightening supplies of ready barrows and gilts is providing support to the market.  We’ve seen availability tighten recently, however slaughter totals still remain well above year-ago levels.  In fact, this week’s totals are projected at 2.15 million head and that should give pork values additional support to move higher.  However – trade talks are still contentious with some of the largest US trading partners and that could limit the market’s ability to make any significant moves higher.

Barrows and gilts at the Iowa/Southern Minnesota are $1.06 higher with a range of $72.00 to $79.50 for a weighted average of $78.96; the Western Corn Belt opened $1.02 higher with a range of $72.00 to $79.50 and a weighted average of $78.96; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.75 higher with a range of $72.00 to $79.50 for a weighted average of $77.38.

Butcher hogs at the Midwest cash markets are steady at $44.00 to $50.00.

At the Interior Missouri Direct, receipts are down on the week and the year.  Barrows and gilts are steady to $4.00 higher at $60.00. to $62.00 with light to moderate supply and demand. Sows are steady to $3.00 higher at $28.00 to $40.00.

At Illinois, slaughter sow receipts are up on the week and priced $3.00 higher at $30.00 to $40.00 with moderate demand for moderate to heavy offerings.  Barrows and gilts are $2.00 higher at $46.00 to $54.00 with moderate demand for moderate offerings.

Pork cutout value is sharply higher at midday – up $1.90 at $81.37.  The primals are all higher, led by large gains in the rib, the picnic, and the butts.