Market News
Midday cash livestock markets
Direct cash cattle markets remain at a standstill. Asking prices are $182 to $183 on the live basis and $285+ dressed, with bids at $177 live and $282 dressed. Some very light business was reported at $178 live in Iowa Tuesday, but not nearly enough to establish a trend. The show list is mixed, lower in Kansas and Texas, higher in Nebraska and Colorado. The USDA’s Cattle on Feed report is out Friday at 3 Eastern/2 Central.
Boxed beef at midday was higher with light movement. Choice was up $2.61 at $298.28 and Select beef was $1.41 higher at $269.29 for a spread of $28.99.
At the Ozarks Regional Stockyard feeder cattle sale in Missouri, compared to the previous week, steer calves weighing less than 700 pounds were $4 to $8 lower, while heifer calves weighing less than 700 pounds were down $2 to $5, with yearlings not well tested. The USDA says demand was moderate for a light supply and that health was a concern because of wide swings in weather, leading to a premium for long-time weaned and vaccinated calves and big discounts for those that weren’t. Receipts were down on the week and the year. 46% of the feeder offering were heifers and 74% of the run weighed less than 600 pounds. Medium and Large 1 feeder steers weighing 400 to 500 pounds were reported at $279 to $307 and 500-to-600-pound steers sold at $255 to $280. Medium and Large 1 feeder heifers weighing 500 to 600 pounds ranged from $226.50 to $244 and Medium and Large 1 to 2 heifers weighing 500 to 600 pounds brought $197 to $222.50.
Cash hogs are mixed with light opening negotiated numbers for the major direct markets. It’s another fairly quiet start to the day this week as buyers assess how their near-term needs stack up against the market ready supplies, while also monitoring wholesale business. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area for the week ending November 11th was 287.3 pounds, up 0.6 on the week and 3.5 on the year.
National direct barrows and gilts opened $.18 higher with a base price range of $59 to $70 for a weighted average of $64.40. Iowa/Southern Minnesota averaged $62.78 and the Western Corn Belt had a weighted average of $62.26. Butcher hogs at Dorchester, Wisconsin are steady at $60, while Red Oak, Iowa is steady to $1 lower at $46. Illinois direct sows are steady at $43 to $56 on moderate demand for moderate to heavy offerings. Barrows and gilts are steady at $40 to $50 with moderate demand and offerings. Boars range from $5 to $21.
Pork at midday was down $.17 at $87.43. Loins, hams, and bellies were weak to sharply lower, with butts, picnics, and ribs modestly to sharply higher.
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