Market News

Midday cash livestock markets

Another quiet start to the day for direct cash cattle trade activity.  Bids have been elusive.  There are some asking prices surfacing around $142 to $143 live in the South, while the North has been quiet.  Look for significant trade volume to pick up as the week progresses. 

Boxed beef is mixed at midday with light to moderate demand for light offerings.  Choice is $.29 higher at $279.25 and Select is $.21 lower at $274.83.  The Choice/Select spread is $4.42. 

At the Tri-State Livestock Auction in Nebraska, compared to last week with the exception of 900-pound steers, which were $5 lower, steers were steady to $12 higher.  Heifers were $4 to $8 higher.  The USDA says demand was good for the entire offering.  Receipts were down on the week.  Feeder supply included 60% steers and 80% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 754 to 799 pounds brought $155 to $165.50 and feeder steers 930 pounds brought $153.   Medium and Large 1 feeder heifers 632 to 642 pounds brought $160 to $167.50 and feeder heifers $153.50 to $154.50. 

Cash hogs opened mixed with moderate negotiated numbers.  Demand for US pork has been strong on the global market and domestically.  That is expected to continue and has been helping provide some price support.  Processors have been aggressive in their procurement efforts recently and the industry has its eyes on the supply of market-ready hogs. Barrows and gilts at the National Daily Direct are $4.75 higher with a base range of $71 to $71 and a weighted average of $76.58; the Iowa/Minnesota is $.38 lower with a weighted average of $87.14; the Western Corn Belt is $.70 lower with a weighted average of $86.82.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $57.  At Illinois, slaughter sow prices were $1 higher with moderate demand for moderate to heavy offerings at $46 to $57.  Barrows and gilts were $2 to $4 higher with moderate demand for moderate offerings at $50 to $58.  Boars ranged from $25 to $30 and $13 to $17. 

Pork values are higher at midday – up $1.81 at $100.  Bellies, picnics, ribs, butts, and hams are all higher.  Loins are lower.