Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  The lone bid to have surfaced is in Nebraska at $292 dressed, but that’s far from the current asking price of $300 dressed in the North and $188 live in the South.  Of interest, if those asking prices can be reached, it could break the previous records, which were set in 2023.  Look for packer inquiry to improve over the balance of the week.

Boxed beef is higher at midday on solid demand for fairly light offerings.  Choice is $1.05 higher at $310.87 and Select is $.40 higher at $301.44.  The Choice/Select spread is $9.43.

At the Huss Livestock Market in Nebraska, steers over 650 pounds were unevenly steady and heifers over 600 pounds were steady to $5 higher.  The USDA says demand was good from the buyers in the crowd and online.  Receipts were up on the week and the year.  Feeder supply included 50% steers and 89% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 708 to 743 pounds brought $265.50 to $274.50 and feeder steers 851 to 875 pounds brought $244 to $255. Medium and Large 1 feeder heifers 712 to 748 pounds brought $242.50 to $252.50 and feeder heifers 765 to 770 pounds, thin fleshed, brought $245 to $249.25.

Cash hogs are higher at midday with strong negotiated purchases.  Processors have been more aggressive recently in their procurement efforts and have been bidding up to move needed numbers.  While this week’s Export Sales report was a bit sluggish, overall demand for US pork on the global market has been strong.  There’s also some optimism there’s some domestic demand strength, too.  The industry continues to monitor the inconsistent movement in pork values, supplies of market-ready hogs, and hog weights. Barrows and gilts at the National Daily Direct are $1.57 higher with a base range of $74 to $81.50 and a weighted average of $79.95; the Iowa/Minnesota is $1.39 higher with a weighted average of $79.95; the Western Corn Belt is $1.57 higher with a weighted average of $79.95.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $58. At Illinois, slaughter sow prices were steady with moderate demand for heavy offerings at $49 to $61.  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 at midday – up $1.73 at $93.69.  Loins were sharply higher.  Hams, picnics, butts, and ribs were also higher.  Bellies were lower.