Market News

Midday cash livestock markets

Direct cash cattle trade has been quiet in the early going Thursday. No bids have been placed with asking prices for cattle left on showlists around $140 live in the South and $232 plus dressed in the North. Northern deals could be mostly wrapped up for the week while more trade could be coming in the South.

Boxed beef is lower at midday. Choice is down $1.02 at $267.20 and select is $.63 lower at $245.05. The Choice/Select spread is $22.15.

At the Huss Livestock Market in Kearney, Nebraska, compared to the last test, 800-pound steers sold $15 higher, 900-pound steers sold $4 higher; heifers over 700 pounds sold $5 to $10 higher. USDA says demand was good. Receipts were sharply down form last test and lower on the year. Feeder supply included 63 percent steers and 88 percent of the offering was over 600 pounds. Medium and large 1 feeder steers weighing 680 to 690 pounds brought $176.50 to $184.50 and feeder steers from 861 to 873 pounds brought $165 to $174.50. Medium and large 1 feeder heifers weighing 666 to 681 pounds brought $158 to $164.50 and feeder heifers from 820 to 888 pounds brought $147 to $153.75.

Cash hogs are higher at midday with solid negotiated purchases. Processors have been bidding up to move their desired numbers. Demand for US pork on the global market has been strong and that’s helping provide price support. The industry continues to monitor the availability of market-ready hogs. 

Barrows and gilts at the National Daily Direct are $.21 higher with a base range of $110 to $122 for a weighted average of $116.85. The Iowa/Minnesota has a weighted average of $120.76; the Western Cornbelt a weighted average of $120.43; the Eastern Cornbelt was not reported at midday due to confidentiality.

Butcher hogs at the Midwest cash markets are mostly steady at $74.

Pork values are sharply higher, up $4.04 at $109.83. Bellies are up more than $12; loins, butts, ribs, and hams are higher; picnics are lower.