Market News

Midday cash livestock markets

A very light direct cash cattle trade has been reported following Wednesday’s active business.  Deals in Eastern Nebraska are at $196 dressed and $123 live.  The dressed deals are $6 higher, while live business is $4 higher than last week’s weighted average basis in Nebraska.  There was a moderate live trade that took place in the South on Wednesday at mostly $120 to $121, $3 to $4 higher than the bulk of last week’s business.  There was a light trade that took place in the North with deals at $122 to $123, $3 to $4 higher than the bulk of last week’s business.  There were a handful of dressed deals at $195.  Asking prices for cattle left on showlists are around $122 plus live in the South and $197 dressed in the North.   

Boxed beef is sharply higher at midday on strong demand for light offerings.  Choice is $3.45 higher at $269.76 and Select is $8.12 higher at $263.31.  The Choice/Select spread is $6.45. 

At the Hub City Livestock Auction in South Dakota, compared to last week steers 650 to 700 pounds, 801 to 850 pounds, and 951 to 1000 pounds were mostly steady.  Steers 751 to 800 pounds and 851 to 950 pounds were steady to $3 higher.  Steers 701 to 750 pounds were $3 to $4 lower.  The best test on heifers was 600 to 650 pounds and they were steady to $3 higher.  The USDA says there was another large offering this week with several strings of backgrounded cattle, as well as many packages and loads of home-raised cattle.  All of which were met with good demand. Most cattle were in moderate to heavy flesh and quality was mostly average to attractive.  The market was active.  Receipts were down on the week.  Feeder supply included 77 percent steers and 91 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 803 to 845 pounds brought $139.25 to $147.50 and feeder steers 902 to 948 pounds brought $132.50 to $142.70.  Medium and Large 1 feeder heifers 604 to 633 pounds brought $145 to $156.50 and feeder heifers 705 to 738 pounds brought $135.50 to $141.75. 

Cash hogs are about steady at midday.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork has been strong on both the global market and domestically, and that has been supportive to prices.  That is expected to continue. Barrows and gilts at the National Daily Direct are $.07 higher with a base range of $92 to $102 and a weighted average of $98.82.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were mixed with good demand for moderate to heavy offerings at $68 to $80.  Barrow and gilt prices were mixed with good demand for moderate to heavy offerings at $65 to $70.  Boars ranged from $35 to $40 and $15 to $20.

Pork values are higher at midday – up $1.17 at $111.86.  Hams and bellies are both sharply higher.  Butts and ribs are higher.  Loins and picnics are sharply lower. 

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