Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  Bids and asking prices have yet to be established.  It’s likely significant trade volume will likely be delayed until Wednesday or later. 

Boxed beef was sharply higher at midday on strong demand for moderate offerings. Choice was $3.63 higher at $312.51, and Select was $.90 higher at $299.78. The Choice/Select spread was $12.73. 

At the Joplin Regional Stockyards in Missouri, feeder steers and heifers sold steady to $5 higher.  The USDA says supply was heavy with very good demand.  Receipts were down on the week, but up on the year.  Feeder supply included 53% steers and 57% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 601 to 645 pounds brought $280 to $317 and feeder steers 700 to 743 pounds brought $260 to $283.  Medium and Large 1 feeder heifers 651 to 695 pounds brought $241 to $258 and feeder heifers 700 to 747 pounds brought $230 to $250. 

Cash hog prices were not reported due to confidentiality with very light negotiated purchases.   The cash hog market has found some strength recently, but it the market has been anything but consistent in recent months.  Processors may come out more aggressive in their procurement efforts. There’s some added uncertainty surrounding the impact of the plant closure announced by Tyson on Monday in Perry, Iowa that slaughters around 9,000 head daily.  The industry continues to monitor the availability of market-ready hogs and hog weights. 

Butcher hog prices at the Midwest cash markets were steady at $58. At Illinois, slaughter sow prices were $2 higher, with moderate demand for heavy offerings at $50 to $62.  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 higher – up $1.06 at $94.57.  Loins were sharply higher.  Bellies, butts, and ribs were higher.  Picnics were about steady.  Hams were lower.