Market News

Midday cash livestock markets

It’s a quiet day for direct cash cattle business.  After the active day on Wednesday – it’s likely the bulk of the week’s business has wrapped up.  But some cleanup trade could trickle in before the end of the day Friday.  Asking prices for cattle left on showlists are around $165 live in the South and $265-plus dressed in the North.  Deals this week have been marked at mostly $163 live, $1 lower than the prior week’s weighted averages, and $264 to $265 dressed, steady to $1 higher than the previous week’s weighted average basis in Nebraska. 

Boxed beef was mixed at midday on light to moderate demand for moderate offerings.  Choice is $1.95 higher at $283.25 and Select is $.32 lower at $269.50.  The Choice/Select spread is $13.75. 

At the Huss Livestock Market in Nebraska, steers over 600 pounds were steady to $4 higher and heifers were steady to $5 higher.  The USDA says demand was good from the buyers in the crowd.  Receipts were down on the week and the year. Feeder supply included 53% steers and 71% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 566 to 573 pounds brought $250.50 to $255 and feeder steers 659 to 690 pounds brought $222.75 to $226.50.  Medium and Large 1 feeder heifers 608 to 618 pounds brought $213 to $215 and feeder heifers 804 to 839 pounds brought $170.75 to $176.50. 

Cash hogs are lower at midday with moderate negotiated purchases. The cash hog market continues it struggle to find consistent support.  Processors moved solid numbers on Wednesday, but at lower prices, the appears to be the case again today.  Demand has been relatively strong, but ongoing concerns about the state of the global economy has the industry worried about long-term demand certainty.  Ample supplies of market-ready hogs is giving packers a little more leverage. Barrows and gilts at the National Daily Direct are $.79 lower with a base range of $72 to $77.50 and a weighted average of $76.50.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $60. At Illinois, slaughter sow prices were $3 lower with moderate demand for moderate offerings at $45 to $57.  Barrows and gilts were $2 lower with moderate demand for moderate offerings at $46 to $58.  Boars ranged from $15 to $25 and $8 to $15. 

Pork values are higher at midday – up $.83 at $80.69.  Picnics, bellies, ribs, loins, and butts were all higher.  Hams were lower.