Market News

Midday cash livestock markets

It’s another very slow start to the day for direct cash cattle trade activity.  Bids have been slow to surface.  Asking prices for cattle left on showlists are around $134 live in the South and $208 plus dressed in the North.  It’s likely the bulk of business has wrapped up for the week, but some cleanup trade could take place yet today. 

Boxed beef was higher at midday with good demand for light offerings.  Choice is $.04 higher at $285.18 and Select is $2.08 higher at $269.37. The Choice/Select spread is $15.81. 

At the MO-Kan Livestock Market in Missouri, compared to last week, steers and heifers were firm to $6 higher.  The quality of calves improved this week and prices reflected that.  The USDA says demand was moderate to good on a moderate to heavy supply.  Receipts were up on the week, but down on the year.  Feeder supply included 58% steers and 28% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 510 to 546 pounds brought $177 to $189 and feeder steers 555 to 592 pounds brought $170 to $180.  Medium and Large 1 feeder heifers 507 to 545 pounds brought $150 to $165 and feeder heifers 621 to 646 pounds brought $144 to $154. 

Cash hog prices had no comparison, but there were solid negotiated purchases.  Demand for US pork on the global market and domestically has been strong, and while that is expected to continue, there is some long-term demand concern and that is adding pressure to prices.  The industry continues to monitor the availability of market-ready hogs and recently have been able to move their desired numbers with less aggressive bids. Barrows and gilts at the National Daily Direct had a base range of $55 to $60 and a weighted average of $57.94; both the Iowa/Minnesota and the Western Corn Belt had a weighted average of $57.82.  The Eastern Corn Belt was not reported due to confidentiality. 

Pork values are sharply higher at midday – up $5.42 at $101.22.  Loins, picnics, and bellies are sharply higher.  Butts and ribs are higher. Hams are sharply lower.