Market News

Light cash cattle trade Thursday

Chicago Mercantile Exchange live cattle futures were mostly lower ahead of widespread direct cash business and Friday’s USDA Cattle on Feed numbers. Feeders had support from the lower move in corn, also waiting for direct trade and the on feed report. December live was down $.70 at $185.60 and February was $.50 lower at $187.42. January feeders were up $1.12 at $253.45 and March was $.70 higher at $252.10.

Direct cash cattle trade has some light trade reported in Nebraska at $186 to $187, $1 to $2 higher than last week’s weighted averages. In Iowa, live deals are marked at $187, $2 higher than the previous week. Asking prices are around $187 to $188 in the South, and $292-plus in the North.

Beef export sales of 14,300 tons were up 1% from the previous week and 8% from the four-week average, with Japan, South Korea, and China leading the pack. 3,100 tons for 2025 delivery were mainly to South Korea and Japan.

At the Huss Livestock Market in Kearney, Nebraska on Wednesday, feeder steers 450 to 600 pounds sold steady to $10 higher with heavier weighted steady to $5 higher. Feeder heifers 450 to 750 pounds were steady to $10 higher. USDA says demand was good for a nice offering of weaned and bawling spring calves along with long yearlings selling in the mix. Feeder supply included 66% steers, 34% heifers, and 61% of the offering was over 600 pounds. Medium and Large 1 feeder steers 856 to 898 pounds sold for $255.50 to $266.25. Medium and Large 1 feeder heifers 506 to 540 pounds brought $283 to $303.50.

Boxed beef close higher with Choice up $.40 at $306.79 and Select up $1.93 at $272.92. The Choice/Select spread was $33.87.

Estimated cattle slaughter was 125,000 head – even on the week and up more than 122,000 on the year.

Lean hog futures closed firm on the modestly higher midday move in pork and technical buying. December lean was up $.27 at $80.80 and February was $.17 higher at $84.65.

Cash hogs were mixed with very light closing negotiated numbers at the major direct markets. Even with a firm undertone at the major direct markets at the end of the day, there were no reported comparisons, and it looks like most buyers have the needed near-term numbers in hand. Parts of the region are seeing more seasonal temperatures, and some areas in the Midwest have had light snowfall, but probably not enough to drastically impact business.

Pork export sales of 18,100 tons were down 9% on the week and unchanged from the four-week average, primarily to Mexico, South Korea, and Japan. 2,500 tons for 2025 delivery were mostly to Australia and South Korea.

Illinois slaughter sows were $3 lower with moderate demand for heavy offerings at $46 to $58; barrows and gilts were $1 higher with moderate demand for moderate offerings at $48 to $58; boars were marked at $15 to $30.

Pork values closed lower – down $1.47 at $93.13.

Estimated hog slaughter was 487,000 head – down 1,000 on the week.