Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet following the light to moderate business that took place on Wednesday.  So far this week deals have been at $131 to mostly $132 live, $3 higher than last week’s weighted averages.  Northern dressed business has had a full range of $205 to $207, mostly $207, $4 higher than last week’s weighted average basis in Nebraska.  Bids have been renewed at $132 live and $207 dressed.  Asking prices are around $134 live in the South and $208 dressed in the North. 

Boxed beef was mixed at midday on light to moderate demand for solid offerings.  Choice is $1.29 lower at $284.23 and Select is $.33 higher at $266.95.  The Choice/Select spread is $17.28.

At the Hub City Livestock Auction in South Dakota, compared to last week the best test was on yearling steers 900 to 950 pounds, which were steady.  Yearling heifers were not well compared.  The best test on steer calves was 500 to 650 pounds, they were steady.  The best test on heifer calves came at 450 to 500 pounds, which were $4 to $6 lower and 550 to 600 pounds, which were steady.  The USDA says demand was very good for yearling cattle again this week.  Quality varied on yearlings, from plain to attractive. There were many packages of and loads of calves on offer, they were met with good demand.  Calves that weren’t fully preconditioned saw lighter demand.  Flesh was mostly moderate to moderate plus.  The market was active for yearlings and moderate to active for calves.  Receipts were down on the week and the year.  Feeder supply included 65% steers and 58% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $161 to $172.75 and feeder steers 700 to 737 pounds brought $151 to $165.50.  Medium and Large 1 feeder heifers 503 to 548 pounds brought $145 to $160.50 and feeder heifers 551 to 592 pounds brought $139 to $153. 

Prices at the major direct markets were not reported at midday due to confidentiality.  Supplies of market-ready barrows and gilts have been more than ample.  The industry has been able to move big numbers at lower prices recently.  Demand for US pork on the global market and domestically has been strong, however, there are long-term demand concerns which is adding pressure to prices.  If a disruption occurred it would likely send prices tumbling. 

Butcher hog prices at the Midwest cash markets are $1 lower at $59. 

Pork values are sharply higher at midday – up $6.46 at $97.03.  Hams jumped nearly $31 to start the day.  Loins were sharply higher, and ribs were higher.  Butts, picnics, and bellies were lower to sharply lower.