Market News

Midday cash livestock markets

Direct cash cattle business is quiet.  Bids and asking prices have yet to surface.  Showlists this week are mixed – higher in Texas, and Nebraska/Colorado, but lower in Kansas.  Significant trade volume will likely be delayed until midweek or later. Last week Southern live deals were at mostly $137, about steady with the previous week’s weighted average.  Northern dressed deals were marked at mostly $230, about $2 below the prior week’s weighted average basis in Nebraska.  

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.58 higher at $270.49 and Select is $.31 higher at $242.10.  The Choice/Select spread is $28.39. 

In South Dakota last week, compared to the previous week feeder steers and heifers were steady to $5 higher.  The USDA says demand was very good for feeder cattle and the market was very active.  There’s some optimism in the market and feeders have been willing to get a little more aggressive to get yearlings bought when they’re offered.  Markets have been sporadic due to the summer schedule.  Receipts were Up on the week and the year.  Feeder supply included 58% steers and 97% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 912 to 949 pounds brought $161.50 to $181.50 and feeder steers 951 to 997 pounds brought $156 to $169.50.  Medium and Large 1 feeder heifers 850 to 897 pounds brought $153 to $161 and feeder heifers 903 to 933 pounds brought $149.50 to $155.75. 

Cash hogs are lower at midday with fairly light negotiated purchases.  Processors started the week slowly and are moving their desired numbers without having to bid up.  While demand for US pork on the global market and domestically has been strong, there are long-term concerns which have been adding pressure to prices.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $3.70 lower with a base range of $108 to $122.50 and a weighted average of $112.59.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $80.

Pork values are higher at midday – up $1.01 at $123.19.  Bellies are up more than $18 at midday.  Ribs are also sharply higher.  Picnics are higher.  Hams, loins, and butts are lower to sharply lower.