Market News

Midday cash livestock markets

Some scattered bids are now on the table in parts of cash cattle country, but so far, they are being passed. Asking prices are around $175-plus in the South and $275-plus in the North. Just a handful of trade has been reported sold this week in Nebraska at $273, certainly not enough to establish any kind of an accurate trend. The USDA says beef export sales of 21,400 tons were up on the week, primarily to South Korea and China.

Boxed beef cutout values were mixed at midday. Choice was down $.34 at $295.95 and Select was up $1.19 at $284.95. The Choice/Select spread was $11.

At Hub City Livestock Auction in South Dakota, the best test on steers 550 to 599 pounds and 650 to 699 pounds was mostly steady compared to the most recent sale. USDA says there was good demand for the sale’s calf offering selling almost entirely in packages. Most of the calves were home raised and all were weaned. It was an active market amid better weather conditions. Feeder supply included 57% steers and 60% of the offering was over 600 pounds. Medium and Large 1 feeder steers 650 to 692 pounds brought $253 to $277. Medium and Large 1 feeder heifers 606 to 649 pounds sold for $241 to $256.

Cash hogs are steady with a light opening negotiated run at the major direct markets. It’s a fairly quiet start to the day with some operations either closed or running on a reduced schedule due to another round of bitterly cold temperatures and snow in parts of the Midwest. Procurement will likely be more aggressive in the coming week with more mild  conditions expected in much of the region. The USDA says pork export sales of 33,400 tons were above a week ago, mainly to Mexico and Japan.

Barrows and gilts at the National Daily Direct are steady with a base range of $39 to $50 and weighted average price of $45.96. The Iowa/Minnesota had no comparison, but a weighted average price of $47.35. The Western Corn Belt had no comparison, but a weighted average price of $45.96. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hog markets were closed on Friday in Dorchester, Wisconsin and Garnavillo, Iowa. At Illinois, slaughter sow prices were steady at $23 to $35; barrows are gilts were steady at $24 to $34; boars were $10 to $20 and $5 to $10.

Pork values were steady to higher at midday – up $1.01 at $89.74. Bellies and buts were steady to sharply higher. Hams, ribs, picnics, and loins were all lower.