Market News

Midday cash livestock markets

Another round of direct cash cattle trade is underway.  Dressed deals in Nebraska are at $287 to $288, steady to $1 below the previous week’s weighted averages.  There’s been a handful of deals reported in Colorado at $180 live.  Asking prices are around $182-plus live in the South and $289-plus dressed in the North.  There was a light to moderate trade that took place in the South on Wednesday with live deals at mostly $180, $2 below the previous week’s business.  There was some scattered live business in the North, which was steady to $1 below the prior week’s weighted average basis. 

Boxed beef is higher and sharply higher at midday on good demand for moderate offerings.  Choice is $1.19 higher at $295.19 and Select is $3.84 higher at $287.86.  The Choice/Select spread is $7.33.

At the Huss Livestock Market in Nebraska, steers 600 to 750 pounds were $4 to $8 lower and steers over 750 pounds were steady to $4 higher.  Heifers sold steady to $5 higher.  The USDA says there was moderate to good demand from buyers both in-house and online. Receipts were up on the week and the year.  Feeder supply included 60% steers and 85% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 690 pounds brought $265 to $283.50 and feeder steers 756 to 799 pounds brought $243.50 to $255.75.  Medium and Large 1 feeder heifers 704 to 747 pounds brought $229.50 to $240 and feeder heifers 752 to 772 pounds brought $225.50 to $233.75.

Cash hogs are higher at midday with light negotiated purchases. Global demand for US pork continues to be a bright spot, which was especially noticeable in this week’s Export Sales report, as sales and shipments were both sharply higher.  Mexico took the top spot on both lists.  The industry continues to watch the availability of market-ready hogs, hog weights, and domestic demand. Barrows and gilts at the National Daily Direct are $2.29 higher with a base range of $61.50 to 470 and a weighted average of $68.32.  No comparisons at the Iowa/Minnesota or the Western Corn Belt but weighted averages of $69.28 and $68.32.  Prices at the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are $4 higher at $52.

Pork values were sharply higher at midday – up $3.08 at $88.99.  Loins and hams are both sharply higher.  Bellies and butts are higher.  Ribs and picnics are lower.