Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet to start the day.  Bids are non-existent.  Asking prices are around $115 plus live in the South, while nothing has surfaced in the North.  Significant trade volume will likely be delayed until the latter half of the week. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.45 higher at $236.13 and Select is $.03 lower at $225.56.  The Choice/Select spread is $10.57. 

At the Joplin Regional Stockyards in Missouri, compared to last week, steers under 700 pounds were $1 to $7 higher and steers over 700 pounds were steady.  Heifers under 600 pounds were $3 to $7 higher and heifers over 600 pounds were steady.  The USDA says demand was good.  Supply was moderated by less than stellar weather conditions.  Feeder supply included 58 percent steers and 59 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 591 pounds brought $152.50 to $165 and feeder steers 801 to 845 pounds brought $132.10 to $138.  Medium and Large 1 feeder heifers 555 to 596 pounds brought $130 to $144 and feeder heifers 705 to 737 pounds brought $122 to $132.50. 

Cash hogs prices were not reported at midday due to confidentiality.  The industry remains optimistic demand for US pork on both the global market and domestically will remain strong.  That’s helped to provide at least some price support.  But supplies of market-ready barrows and gilts are still more than ample. And, processors continue to push daily slaughter totals higher.  Both add more pork to a market that is heavily saturated.  And should there be any disruption to demand – it could negatively impact prices. 

Butcher hog prices at the Midwest cash markets are $2 higher at $44. 

At Illinois, slaughter sow prices were firm with good demand for heavy offerings at $36 to $48.  Barrow and gilt prices were weak, with good demand for moderate to heavy offerings at $35 to $40.  Boars ranged from $15 to $20 and $5 to $10. 

Pork values are higher at midday – up $1.16 at $83.82.  Loins, butts, and bellies are sharply higher.  Picnics, ribs, and hams are lower to sharply lower.