Market News

Midday cash livestock markets

It’s anticipated to be a slow week for cattle and hog business. The bulk of last week’s cattle business was on Tuesday and Wednesday and that was just a handful of trades in Nebraska and Iowa on Thursday. Southern live trade was 1 to 2 lower, ranging from $133.50 to $136, mostly $135. Northern dressed cattle trade was steady to a dollar lower, ranging from $215 to $218, with the bulk of the trade at $217 to $218.

Boxed beef was mixed at midday Monday. Choice boxes were $.12 lower at $262.82, while select boxes were $.79 higher at $253.74.

There are little if any feeder cattle sales this week; in Kansas last week there were not enough feeder steers and heifers for an adequate comparison and headcounts were mostly light, but a 92-head draft of medium and large frame Number 1 steers weighing 794 pounds brought $160.25; 59 head weighing 800 to 814 pounds brought $157.50 to $159.50. A 46-head set of fancy 986-pound steers brought $152.25.

Medium and large Number 1 heifers, 66-head, weighing 689 pounds, brought $157.00. Another 66 head, weighing 747 pounds, brought $152.00; 46 head of heifers, weighing 807 to 825, brought $146.50 to $151.50.

The butcher hog market was very quiet at midday, but some of that is for technical reasons. The USDA Direct Morning Hog Report was delayed because of packer submission issues. Aside from that, there’s little to report between Christmas and the new year. Generally, demand for US pork is strong, but there are long-term demand concerns. That has put pressure on prices.  Processors haven’t had to be aggressive about getting hogs. The last available reported prices were from last Thursday. National Direct barrows and gilts closed Thursday $.56 lower, from $58 to $65, with a weighted average of $60.53; Iowa/Minnesota Direct hogs were at a weighted average $61.48; and Western Corn Belt hogs were at a weighted average of $61.44.

Pork was being traded. The midday pork carcass cutout value was $.75 higher Monday at $92.22. Loins were down $.19 at $82.16, but ribs were up $2.75 at $154.81.