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Cash hog prices mixed on Monday

At the Chicago Mercantile Exchange, live and feeder cattle were lower on profit-taking.  Feeders had additional pressure from the higher move in corn. February live cattle closed $1.37 lower at $197.40 and April lives closed $1.27 lower at $198.20.  March feeder cattle closed $1.50 lower at $267.90 and April feeder cattle closed $1.85 lower at $268.32.

Direct cash cattle trade had a very typically quiet start to the week.  Bids and asking prices didn’t surface.  Showlists this week are mixed, higher in Nebraska, Colorado, and Texas, but lower in Kansas.  Significant trade volume will likely be delayed until sometime Thursday or Friday. 

At mid-session, the Oklahoma National Stockyards feeder steers and steer calves were $6 to $12 higher. Feeder heifers were $4 to $8 higher.  There were instances up to $15 higher on feeder cattle.  Heifer calves were $10 to $13 higher.  Steer and heifer calves had instances up to $20 higher.  The USDA says demand was good.  Receipts are down slightly on the week and down on the year.  Feeder supply included 55% steers and 57% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 641 pounds brought $309 to 4334 and feeder steers 700 to 740 pounds brought $280 to $300.  Medium and Large 1 feeder heifers 557 to 596 pounds brought $283.50 to $307 and feeder heifers 600 to 649 pounds brought $265 to $292. 

Boxed beef closed higher. Choice was up $.51 at $333.35 and Select was $3.43 higher at $317.57. The spread was $15.78.

Estimated cattle slaughter was 117,000 head – up 8,000 on the week and the year.

Lean hog futures ended the day mostly higher, supported by higher pork values during the session. February lean hogs closed $.62 higher at $83.17 and April lean hogs closed $.62 higher at $89.30. 

Cash hogs were mixed Monday. There was some optimism for hog prices in 2025 in Friday’s Supply and Demand report, it remains to be seen if the market can deliver. Demand for U.S. pork on the global market continues to be strong, which is helping provide support to the market.  Domestic demand remains inconsistent, creating uncertainty in the market.  The industry continues to monitor the availability of market-ready hogs and hog weights. 

Barrows and gilts at the National Daily Direct were up $.14 with a base range of $70 to $80. The Iowa/Minnesota was down $1.30 with a weighted average of $79.20. The Western Corn Belt was down $1.10 with a weighted average of $79.20. The Eastern Corn Belt was not reported due to confidentiality.

Estimated hog slaughter was 486,000 head – up 39,000 on the week and up about 115,000 on the year.

Butcher hog prices at the Midwest cash markets are steady at $55.

Pork values closed lower – down $1.16 at $90.20.

Estimated hog slaughter was 486,000 head – up 39,000 on the week and up about 115,000 on the year.

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