Market News

Midday cash livestock markets

Direct cash cattle business is quiet.  Bids have yet surface.  Asking prices have been floated at $139-plus live in the South, while the North has been quiet.  Showlists this week are mixed – higher in Texas, and Nebraska/Colorado, but lower in Kansas.  While some business could start to develop yet today, it’s likely significant trade volume will be delayed until midweek or later. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $2.43 higher at $272.98 and Select is $2.27 higher at $244.93.  The Choice/Select spread is $28.05.

At the Joplin Regional Stockyards in Missouri, compared to last week, feeder steers were steady to $4 higher.  Feeder heifers were steady to $3 higher.  The USDA says supply was heavy with good demand.  Receipts were down on the week and up on the year.  Feeder supply included 56% steers and 52% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 602 to 649 pounds brought $180 to $196 and feeder steers 807 to 842 pounds brought $164 to $171.  Medium and Large 1 feeder heifers 500 to 547 pounds brought $161 to $175 and feeder heifers 700 to 737 pounds brought $154 to $162.25. 

Cash hogs are sharply higher at midday with fairly large negotiated purchases. The industry continues to monitor the availability of market-ready hogs.  Processors bid up to move their desired numbers to start the day and were more aggressive in their procurement efforts.  Demand for US pork on the global market and domestically has been strong, which helps provide price support. Barrows and gilts at the National Daily Direct are $4.90 higher with a base range of $108 to $125 and a weighted average of $117.49 and the Eastern Corn Belt had no comparison but a weighted average of $118.26.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported at midday due to confidentiality.  

Butcher hog prices at the Midwest cash markets are steady at $80. At Illinois, slaughter sow prices were $3 higher with moderate demand for moderate to heavy offerings at $48 to $60.  Barrows and gilts were steady with moderate demand for moderate offerings at $74 to $83.  Boars ranged from $45 to $50 and $10 to $15. 

Pork values are higher at midday – up $3.76 at $125.72.  Hams, ribs, bellies, and butts are all sharply higher.  Picnics and loins are lower.