Market News

Midday cash livestock markets

It’s a quiet day for direct cash cattle trade activity following the active days earlier in the week.  While the bulk of the week’s business has wrapped up, some cleanup trade could take place before the end of the day Friday.  Asking prices for what’s left on showlists are at $142 to $143 live in the South and $236 plus dressed in the North.  So far this week, deals have been marked at $139 to $141, mostly $140 live, $1 higher than last week’s weighted averages.  Northern dressed business has been at $228 to $236, mostly $230, $4 higher than last week’s weighted average basis in Nebraska.  Deals in Colorado have been marked at $145, $3 higher than last week’s weighted average. 

Boxed beef is mixed at midday on relatively light demand for light offerings.  Choice is $.94 higher at $269.76 and Select is $.29 lower at $256.25.  The Choice/Select spread is $13.52. 

At the Hub City Livestock Auction in South Dakota, an accurate trend wasn’t available due to last week’s light, weather-related offering.  A higher undertone was noted on both steers and heifers.  The USDA says demand was good to very good for the large offering feature strings, loads, and packages of both home-raised and backgrounded cattle.  Quality was mostly average to attractive, and flesh ranged from light to heavy.  There were also a few consignments of replacement-type heifers.  Grass conditions are still uncertain for many following last year’s drought.  The market was active.  Receipts were up significantly on the week and the year.  Feeder supply included 63% steers and 90% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 853 to 896 pounds brought $152.75 to $165.25 and feeder steers 903 to 948 pounds brought $150 to $163.25.  Medium and Large 1 feeder heifers 704 to 740 pounds brought $141 to $152 and feeder heifers 762 to 799 pounds brought $140 to $152.50. 

Cash hogs opened sharply higher with large negotiated purchases.  Processors were aggressive in their procurement efforts and bid up to move their desired numbers.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market and domestically has been strong, but there are long-term concerns that to create some uncertainty around prices. Barrows and gilts at the National Daily Direct are $6.39 higher with a base range of $94 to $111.50 with a weighted average of $105.41.  The Iowa/Minnesota and the Western Corn Belt had no comparisons but weighted averages of $109.55 and $109.70.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were $4 lower at $76. At Illinois, slaughter sow prices were $3 to $5 lower with moderate demand for heavy offerings at $72 to $85.  Barrows and gilts were steady with moderate demand moderate offerings at $60 to $69.  Boars ranged from $42 to $47 and $20 to $25. 

Pork values are higher at $2.97 at $111.46.  Bellies, hams, and butts were all sharply higher.  Loins, ribs, and picnics were lower to sharply lower.