Market News

Midday cash livestock markets

As expected, direct cash cattle trade activity is at a standstill.  It’s looking like business is essentially done for the week.  We saw a light to moderate trade develop across most areas and if there’s any activity today it will likely be some clean-up trade.  We saw live business develop at $108 to $110, mostly $109 in the South which was steady with last week.  Dressed business was $178 to $182, mostly at $180 in the North.  Northern business was generally $1 higher than last week. 

Boxed beef is steady to lower on light demand for moderate offerings.  Choice is $1.09 lower at $218.16 and Select is $.21 lower at $195.15.  The Choice/Select spread is $23.01. 

In Nebraska this week, receipts were down significantly due to the holiday.  The USDA says demand was moderate to good for the short supply.  Feeder supply included 57 percent steers and 87 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 870 to 881 pounds brought $133.50 to $136.10 and feeder steers 952 to 959 pounds brought $129.50 to $133.75.  Medium and Large 1 feeder heifers 604 to 616 pounds brought $142 to $143.60 and feeder heifers 661 to 679 pounds brought $135.50 to $136.75. 

In Iowa this week, receipts were down.  Steer and Heifers were steady to $1 higher on a very light test.  Feeder supply included 96 100 percent dairy steers and 78 percent of the offering was over 600 pounds.  Medium and Large 1 dairy steers 906 to 948 pounds brought $76 to $85.50 and feeder steers 1221 to 1242 brought $74.35. 

Cash hogs opened lower with fairly light negotiated numbers to start the day.  Supply and demand continue to be the focus of the market.  The latest export report from the USDA wasn’t really good news for the pork sector.  The market has yet to see a significant uptick in exports, and that, combined with heavy supplies adds more pressure to prices.  African Swine Fever continues to spread throughout China and Asia and the market is still hopeful demand for US pork on the global market will increase and give pork the support it needs for prices to move higher.  Barrows and gilts at the National Daily Direct opened $1.52 lower with a range of $58 to $66.75 for a weighted average of $65.62.  Prices at the Iowa/Southern Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported at midday due to confidentiality. 

Midwest cash hog markets are closed today.  At Illinois, slaughter sow prices were steady at $20 to $33 with moderate to good demand for light to moderate offerings.  Barrow and gilt prices were steady at $40 to $47 with moderate demand fo4r moderate offerings. 

Pork values are higher at midday – up $1.13 at $72.61.  Picnics and ribs were sharply higher.  Hams and loins were firm to higher.  Bellies and butts were lower.