Market News

Midday cash livestock markets

Direct cash cattle trade is quiet as packers are focused on the collection of new showlists.  With the 4th of July holiday coming at midweek – significant trade volume isn’t expected until Thursday or Friday.  Last week saw a moderate to active live trade developed starting on Wednesday with prices ranging from $105 to $106, $2 to $3 lower than the previous week’s weighted averages.  On Friday another round of moderate trade developed at $107 to $108, $1 to $2 higher than business earlier in the week.  Very little dressed trade developed last week.

At the South Dakota markets last week, receipts were down significantly on the week, but up on the year.  Compared to the previous week’s auction feeder steers under 850 pounds were unevenly steady and steers over 850 pounds were steady to $4 lower.  Feeder heifers were unevenly steady.  The USDA says demand was moderate and had improved to good by late week.  Medium and Large 1 feeder steers 810 to 841 pounds brought $135.75 to $147.35 and steers 912 to 942 pounds brought $125 to $135.  Medium and Large 1 feeder heifers 651 to 694 pounds brought $142.50 to $163.50 and feeder heifers 853 to 897 pounds brought $116.35 to $128.40.

Boxed beef cutout values are steady to firm at the midday. Choice down $.08 at $211.88 and Select is up $.32 at $198.89.  The Choice/Select spread has dropped to $12.99.

Cash hogs were called steady to $1 lower.  Trade volume is expected to be light with the holiday and this week is typically one of the slowest for slaughter totals.  But the market remains nervous with the large hog supply and the ongoing negative trade talks.  Any disruption to demand would detrimental to US hog producers.

Prices at all the major regional direct markets were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady at $50 to $52.

At Illinois, slaughter sow receipts are down on the week and the year.  Prices are $2 lower, at $34 to $44, with moderate demand for moderate offerings.  Barrows and gilts are $1 lower at $44 to $54 with moderate demand for moderate offerings.

Pork cutout values are firm at the midday – up $.45 at $87.83.  The primals are mostly higher – led by the nearly $8 jump in the rib and more than $2 jump in the belly.

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