Market News

Midday cash livestock markets

Direct cash cattle business is off to a slow start. Bids and asking prices have yet to surface. Buyers and sellers are busy preparing for the short trading week. Significant trade volume could hold out until sometime Thursday or Friday or, they could try and wrap business up early to extend the long weekend ahead. The bulk of last week’s business in the North took place Wednesday and Thursday with a little cleanup trade on Friday. Deals ranged from $268 to $273, mostly $270 to $271, $2 to $3 higher than the prior week’s business. Southern live business held out until Friday and was at mostly $171, $1 above the previous week’s business. 

Boxed beef is lower at midday on light demand for light offerings. Choice is $.48 lower at $292.45 and Select is $.45 lower at $260.70. The Choice/Select spread is $31.75.  

In South Dakota last week, steer calves were $7 to $10 higher with instances of $15 higher. Heifer calves were $8 to $10 higher. Yearling steers were steady to $3 higher, and heifers were steady to $5 higher. The USDA says there was very good demand for calves, moderate to good demand for yearlings. Last week’s stronger cash business helped provide a little glimmer of hope for business. Receipts were down significantly as many barns have closed down for the holidays. Feeder supply included 48% steers and 70% of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 648 pounds brought $256 to $283 and feeder steers 700 to 741 pounds brought $221 to $225. Medium and Large 1 feeder heifers 650 to 687 pounds $233 to $264 and feeder heifers 751 to 799 pounds brought $193 to $221.50.  

Cash hogs prices were not reported due to confidentiality. There were very few negotiated purchases. It’s likely another slow week of business due to the holiday-shortened week. Supplies of market-ready hogs remain more than ample and according to the latest Quarterly Hogs and Pigs report, that isn’t likely to change. Demand for US pork has been relatively strong, but domestic demand continues to struggle. 

The five-day rolling average for barrows and gilts at the National Daily Direct is $48.09; it’s $48.22 for the Iowa/Minnesota, and it’s $48.26 at the Western Corn Belt.  

Butcher hog prices at the Midwest cash markets are steady from last week at $44.  At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $28 to $40. Barrows and gilts were steady with moderate demand for moderate offerings at $25 to $35. Boars ranged from $10 to $20 and $5 to $10.  

Pork values were higher at midday – up $1.69 at $83.90. Bellies were sharply higher. Hams were higher. Butts, picnics, loins, and ribs are all lower.