Market News

Midday cash livestock markets

Direct cash cattle trade is relatively quiet following the light business that took place mostly in the North on Thursday.  Bids are at $182 live in the South.  Asking prices are around $187 to $189 live in the South and $294-plus dressed in the North.  Look for more business to take place before the end of the day today.  On Thursday, dressed deals were marked at $292, $2 higher than the previous week’s weighted averages.  Live deals in the North were marked at $186, $3 higher than the prior week’s weighted averages. 

Boxed beef is modestly higher at midday on solid demand for moderate offerings.  Choice is $.35 higher at $306.96 and Select is $.63 higher at $296.89.  The Choice/Select spread is $10.07.

At the Mitchell Livestock Auction in South Dakota, feeder steers 650 to 950 pounds were $3 to $8 higher with instances of $10 higher.  Feeder heifers 650 to 900 pounds were $1 to $4 higher with instances of $10 higher.  The USDA says demand was good.  Receipts were down on the week and the year.  Feeder supply included 41% steers and 92% of the offering was 600 pounds.  Medium and Large 1 feeder steers 658 to 698 pounds brought $284 to $299 and feeder steers 750 to 781 pounds brought $260 to $272.75.  Medium and Large 1 feeder heifers 651 to 694 pounds brought $254 to $262 and feeder heifers 701 to 748 pounds brought $240 to $250.

Cash hogs are lower at midday with very light negotiated purchases.  Processors likely have needed numbers on hand and aren’t in any hurry to do business today.  Demand for US pork on the global market continues to be a bright spot.  The US is also benefitting from declining production in the EU.  Concerns do linger about long-term demand certainty.  The industry continues to watch the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $3.41 lower with a base range of $73 to $75 and a weighted average of $73.88.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were $1 higher with moderate demand for moderate to heavy offerings at $46 to $58.  Barrows and gilts were steady with moderate demand for moderate offerings at $43 to $53.  Boars ranged from $15 to $25 and $8 to $15.

Pork values were sharply higher at midday – up $2.36 at $93.51.  Bellies, ribs, picnics, hams, and butts were all sharply higher.  Loins were lower.