Market News

Midday cash livestock markets

A light to moderate direct cash cattle trade has been reported in most feeding areas.  Live business at $112 to $113 – about $4 to $5 higher than the previous week.  Dressed sales in Nebraska and Iowa are at $175 to $178, about $5 to $8 higher than the previous week’s weighted average.  Asking prices are $113 to $115 live and $178-plus dressed.

At the Oklahoma auctions this week, receipts were down due to the July 4th holiday.  Trends were limited due to the Holiday shortened week.  The USDA says demand was very good for the light supply.  Feeder cattle sold $5 to $8 higher and steer calves sold $3 to $5 higher.  Recent rain showers helped to green-up some pastures and helped to fuel demand for light cattle.  Feeder supply included 42 percent heifers and 47 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 634 pounds brought $144.50 to $165 and feeder steers 701 to 732 pounds brought $124.50 to $157.  Medium and Large 1 feeder heifers 510 to 548 pounds brought $143 to $153 and feeder heifers 813 to 849 pounds brought $127.50 to $132.

Boxed beef cutout values are mixed on light to moderate supply and demand.  Choice is down $.30 at $208.13 and Select is $.38 higher at $199.09.  The Choice/Select spread is $9.05.

Cash hogs opened steady to lower.  Buyers and sellers are monitoring pork demand.  China has implemented its additional 25 percent tariff on imported US pork bringing the total tax to greater than 70 percent.  With this exceptionally large hog supply – any disruption to demand would be costly to US pork producers. Barrows and gilts at the National Daily Direct opened $.44 lower with a range of $75 to $77.50 for a weighted average of $76.27.  The other regional direct markets were not reported due to confidentiality.

The Midwest cash butcher hog markets are closed today.  At Illinois, slaughter sow receipts were $1 lower at $34 to $43 with moderate demand for moderate offerings.  Barrows and gilts were steady at $44 to $54 with moderate demand for moderate offerings.

Pork cutout values opened lower – down $.99 at $85.30.  The primals are mixed with the ribs, hams, and picnics lower and the bellies, butts, and loins higher.

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