Market News

Midday cash livestock markets

Cash cattle country remains quiet on Tuesday with bids and asking prices not established. Showlists this week are mixed – higher in Texas, but lower in Kansas and Nebraska/Colorado. Significant trade volume will likely be delayed until the second half of the week.

Boxed beef was mixed at midday with light to moderate box movement. Choice was down $1.14 at $305.16 and Select was up $.28 at $295.45. The Choice/Select spread was $9.71.

At the Joplin Regional Stockyards in Missouri, feeder steers under 725 pounds sold $10 to $15 higher and heavier weights were steady to $3 higher. Feeder heifers were mostly steady to $5 higher with some exceptions of 4 weights selling up to $12 higher. USDA says supply was heavy with very good demand. Feeder supply included 53% steers and 62% of the offering was over 600 pounds. Medium and Large 1 feeder steers 602 to 649 pounds brought $275 to $313. Medium and Large 1 feeder heifers 701 to 749 pounds sold for $228 to $256.

Cash hogs are mixed with light to moderate opening negotiated numbers at the major direct markets. Those major direct markets are issuing lower bids and saving some money, while still acquiring the needed supplies. There’s some added leverage from signs the wholesale market is entering at least a short-term downtrend.

Barrows and gilts at the National Daily Direct were down $.37 with a base range of $69 to $75 and a weighted average price of $72.88. The Western Corn Belt was down $.84 with a weighted average price of $72.94. The Iowa/Minnesota and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs at the Midwest Cash markets were steady at $55; slaughter sows were steady at $45 to $48; boars were marked at $18. At Illinois, slaughter sow prices were $1 higher with moderate demand for moderate offerings at $45 to $57; barrows and gilts were up $1 with moderate demand for moderate offerings at $43 to $53; boars were priced at $8 to $25.

Pork values were lower at midday – down $1.24 at $91.58. Loins, ribs, and hams were higher. Bellies, picnics, and butts were lower.