Market News

Midday cash livestock markets

Direct cash cattle trade has been slowly developing in the South.  Some deals are reported at $117 – $3 to $4 lower than last week’s weighted average – but steady with yesterday.  Light to moderate trade was reported yesterday in parts of the North with dressed deals at $187 to $188 – $2 to $3 lower than last week’s weighted average basis in Nebraska.  Colorado has started to see some trade at $118.50 – down $2.50 from the previous week.  Asking prices are around $118 to $120 in the South and $190 in the North with bids at $117 live and $186 to $187 dressed.

Boxed beef is mixed at the midday on light to moderate box movement.  Choice down $1.24 at $205.16 and Select up $.14 at $184.25.  The Choice/Select spread is $20.91.

At the Bassett Livestock Auction in Nebraska, compared to last week lightweight steer calves were $2.00 lower and steers 600 to 650 pounds were $4.00 to $7.00 lower.  The USDA says demand was good for several loads.  Feeder supply included 53 percent steers and 88 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 650 to 695 pounds were $159.75 to $177.50 and Medium and Large 1’s 702 to 747 pounds were $161.00 to $173.50.  Feeder heifers, Medium and Large 1’s 657 to 670 pounds were $148.00 to $155.25 and Medium and Large 1 fancy heifers 1010 to 1029 pounds were $152.00 to $155.50.

Cash hogs are lower at the midday.  The trade continues to watch the availability of market-ready numbers.  Slaughter numbers have been strong this week and that looks to continue.  Heavier weights are adding more production and increasing the pressure on prices.

Barrows and gilts at the Iowa/Southern Minnesota are $1.35 lower with a range of $53.00 to $60.00 and a weighted average of $57.46; the Western Corn Belt is $1.35 lower with a range of $53.00 to $60.00 and a weighted average of $57.46; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.77 lower with a range of $53.00 to $60.00 and a weighted average of $58.05.

Butcher hogs at the Midwest cash markets are steady at $36.00.

At the Interior Missouri Direct, barrows and gilts are steady at $50.00 to $53.00 on light to moderate supply and demand.  Sows are steady to $2.00 higher at $28.00 to $36.00.

At Illinois, slaughter sow prices are steady at $24.00 to $40.00 with moderate demand for moderate offerings.  Barrows and gilt prices are weaker at $38.00 to $43.00 with moderate demand for moderate offerings.

Pork value is higher at the midday – up $.79 at $83.54.  The primals are mixed with strong gains in the picnic and the loin.