Market News

Midday cash livestock markets

Cash cattle country is off to yet another slow start with just a few asking prices noted around $184 plus in the South and $292 plus in the North. Just a few bids are on the table in parts of Kansas. Significant trade volume will likely be delayed until late afternoon and/or Friday.

Boxed beef was higher at midday with Choice up $1.39 at $299.19 and Select up $1.23 at $285.69. The Choice/Select spread was $13.50.

At Winter Livestock in Kansas, feeder steer and heifer calves under 600 pounds sold $10 to $15 higher compared to the most recent sale. Heavier weights were mostly steady to $1 to $3 higher. USDA says demand was good to very good on a moderate supply. Feeder supply included 60% steers and 79% of the offering was over 600 pounds. Medium and Large 1 feeder steers 654 to 693 pounds brought $260.75 to $275 and feeder steers 863 to 898 pounds sold for $227.50 to $234.60. Medium and Large 1 feeder heifers 520 to 527 pounds brought $294 to $295.50 and feeder heifers 751 to 797 pounds sold for $220 to $235.75.

Cash hogs are higher with moderate opening negotiated numbers at the major direct markets. It looks like business is in for at least one more round of mostly higher movement this week. The pork cutout has been down for most of the week, but might have found a floor, at least for now, and export demand continues to be a consistent source of support. The USDA’s livestock slaughter numbers for January are out today at 3 Eastern/2 Central, with weekly export sales and cold storage reports on Friday.

Barrows and gilts at the National Daily Direct were up $.82 with a base range of $68 to $75 and weighted average price of $73.30. The Iowa/Minnesota was $1.09 higher with a weighted average price of $73.87. The Western Corn Belt was up $.92 with a weighted average price of $73.74. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are called steady at $50; slaughter sow prices are steady at $39 to $42; boars are $14. At Illinois, slaughter sows were steady with moderate demand for moderate to heavy offerings at $38 to $50; barrows and gilts were steady wit moderate demand for moderate offerings at $37 to $47; boars were marked at $8 to $25.

Pork values were higher at midday – up $2.90 at $93.07. Butts, picnics, and hams were higher. Bellies were sharply higher – up $13.59 at $140.83. Ribs and loins were mostly lower.

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