Market News

Midday cash livestock markets

Cash cattle country is off to a slow start on Wednesday with no bids on the table. Some light business took place Tuesday with just a few head of live steers traded in Iowa at $183. Significant trade volume is likely to be delayed until Friday.

Boxed beef cutout values were mixed at midday with light to moderate movement. Choice was down $.02 at $304.77 and Select was up $.76 at $295.63. The Choice/Select spread was $9.14.

At the Ozark Regional Stockyards in Missouri, feeder steers and heifers were steady to $5 higher compared to the most recent sale. USDA says demand was good on a moderate supply. Feeder supply included 56% steers and 33% of the offering was over 600 pounds. Medium and Large 1 feeder steers 555 to 577 pounds brought $300 to $313 and feeder steers 662 to 685 pounds sold for $265 to $287. Medium and Large 1 feeder heifers 456 to 498 pounds brought $282.50 to $312.50 and feeder heifers 605 to 647 pounds sold for $249 to $268.

Cash hogs are steady to sharply higher with strong opening negotiated sales for the major direct markets. It looks like buyers are still in need of some near-term numbers and while wholesale pork has been down for most of the week to date, demand continues to hold up relatively well. The USDA’s weekly export sales numbers are out Thursday morning. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting region last week was 287.3 pounds, down four tenths from the prior week, but up 1.4 from a year ago.

Barrows and gilts at the National Daily Direct were up $3.48 with a base range of $73 to $78 for a weighted average price of $76.36. The Iowa/Minnesota was $3.50 higher with a weighted average of $76.96. The Western Corn Belt was up $3.53 with a weighted average of $76.47. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets were steady at $55; sows were steady at $45 to $48; boars were $18. At Illinois, slaughter sows were steady at $45 to $57; barrows and gilts were steady at $43 to $53; boars ranged from $8 to $25.

Pork values were higher at midday – up $.29 at $91.72.