Market News

Midday cash livestock markets

Direct cash cattle trade is a little more active.  Still no deals to report, but bids are on the table at $110 to $111 live in the South and $170 to $172 dressed and $110 live in the North.  Asking prices are at $112 to $114 live in the South and $175 plus dressed in the North.  Packer inquiry is expected to improve as the day progresses. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.20 lower at $208.26 and Select is $3.71 higher at $226.55.  The Choice/Select spread is $18.29. 

At the Hub City Livestock Auction in South Dakota, compared to last week, the best test was on yearling steers 950 to 1000 pounds, which were steady, the rest of yearling steers and yearling heifers were not well compared.  Steer calves 450 to 550 pounds were mostly steady, 551 to 600-pounds were $2 to $5 higher.  Heifer calves 450 to 500 pounds were $3 to $4 lower, 501 to 600 pounds were mostly steady.  The USDA says demand for yearling cattle continues to be very good as supplies dwindle every week.  Several strings and loads made up the majority of the yearling offerings.  Flesh varied, but was mostly moderate to moderate plus.  Moderate to good demand for the calf offering.  The market was moderate to active.  Receipts were up on the week, but down on the year.  Feeder supply included 54 percent steers and 70 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 657 to 689 pounds brought $142.75 to $155 and feeder steers 963 to 982 pounds brought $136 to $138.10.  Medium and Large 1 feeder heifers 616 to 642 pounds brought $133 to $138.75 and feeder heifers 850 to 891 pounds brought $127 to $139.50. 

Cash hogs were weak at midday with moderate negotiated numbers.  The availability of market-ready hogs is more than ample and daily slaughter runs continue to push higher.  That keeps the supply chain moving and prevents hogs from backing up any further in the production system.  It also adds more pork to an already saturated market.  But, the market remains optimistic demand for US pork will continue to grow globally and domestically.  Barrows and gilts at the National Daily Direct are $.40 lower with a base range of $57 to $61 with a weighted average of $60.79; the Iowa/Minnesota had no comparison but a weighted average of $60.28; the Western Corn Belt had no comparison but a weighted average of $60.28.  The Eastern Corn Belt was not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $46. At Illinois, slaughter sow prices were $2 higher with good demand for moderate offerings at $28 to $42.  Barrow and gilt prices were firm with good demand for moderate to heavy offerings at $39 to $42.  Boars ranged from $5 to $8. 

Pork values are sharply higher at midday – up $3.43 at $86.57.  Picnics, loins, and bellies are all sharply higher.  Hams and butts are higher.  Ribs are weak.