Market News

Midday cash livestock markets

Direct cash cattle trade activity has been quiet to start the day.  Only a few bids resurfaced this morning at $180 to $182 dressed.  Asking prices for cattle left on showlists are around $115 to $116 live in the South and $182 to $185 dressed in the North.  The bulk of the week’s business has likely wrapped up, but some cleanup business could still trickle in this afternoon.  There was another round of light business that took place on Thursday evening with live deals in parts of Nebraska and Iowa at mostly $114.  Business on Wednesday and Thursday was at $114 live in the South and mostly $180 dressed in the North. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.19 higher at $233.15 and Select is $.19 lower at $220.10.  The Choice/Select spread is $13.05. 

At the Mitchell Livestock Auction in South Dakota, compared to last week, feeder steers were steady to $3 higher and heifers were steady to $4 higher.  The USDA says demand was good to very good, depending on flesh and kind for the nice offering of high quality, backgrounded feeder cattle.  The bitterly cold temperatures continue to impact sales numbers as there were some weather-related cancellations.  Flesh ranged from light to heavy and there were plenty of buyers for all kinds.  Receipts were down on the week and up on the year.  Feeder supply included 56 percent steers and 83 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 754 to 796 pounds brought $134.75 to $142.85 and feeder steers 851 to 898 pounds brought $127.50 to $135.60.  Medium and Large 1 feeder heifers 651 to 686 pounds brought $133 to $137.85 and feeder heifers 700 to 744 pounds brought $126 to $133.75. 

Cash hogs are lower at midday with moderate negotiated purchases.  While the industry is optimistic demand for US pork will continue to see strength on both the global market and domestically, the heavy supplies do limit the market’s ability to move higher.  The availability of market-ready barrows and gilts are more than ample and daily slaughter totals continue to push higher.  That adds more pork to an already saturated market. Barrows and gilts at the National Daily Direct are $1.82 lower with a base range of $55 to $65 and a weighted average of $63.18.  Prices at the regional direct markets were not reported due to confidentiality. 

Pork values are firm at midday – up $.19 at $89.06.  Bellies and butts are sharply higher.  Ribs, picnics, loins, and hams were lower to sharply lower.