Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet through midday.  Asking prices have started at $188-plus live in the South, while the North is quiet.  Bids haven’t surfaced. Significant trade volume isn’t expected to develop before the latter half of the week.

Boxed beef is mixed at midday with light to moderate demand for solid offerings.  Choice is $1.56 higher at $314.89 and Select is $.06 lower at $302.99.  The Choice/Select spread is $11.90.

At the Callaway Livestock Center in Missouri, steer calves 400 to 500 pounds were $5 to $15 higher, with spots of $20 higher on steers 400 to 450 pounds.  Steers 600 to 750 pounds were $5 to $10 higher.  Feeder heifers 550 to 600 pounds were $5 to $10 higher, and heifers over 600 pounds sold with a higher undertone.  The USDA says demand was good to very good on a moderate to heavy supply.  Quality was very good on calves and yearlings.  Buyers were aggressive in picking up cattle.  Receipts were upon the week and the year.  Feeder supply included 54% steers and 51% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 596 pounds brought $305 to $327.75 and feeder steers 870 to 890 pounds brought $240 to $244.25.  Medium and Large 1 feeder heifers 558 to 597 pounds brought $268 to $285.50 and feeder heifers 657 to 697 pounds brought $245.50 to $261. 

Cash hogs are mixed at midday. Processors haven’t been too aggressive in their procurement efforts.  The industry continues to monitor both global and domestic demand.  Solid showings provide price support.  The industry is also watching supplies of market-ready hogs, hog weights, and the ongoing inconsistency in pork cutout values. Barrows and gilts at the National Daily Direct are $.94 higher with a base range of $75 to $83 and a weighted average of $79.86; no comparison at the Iowa/Minnesota but a weighted average of $76.60; the Western Corn Belt is $2.37 lower with a weighted average of $76.60.  Prices at the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were steady with moderate demand for moderate 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 at midday – up $.73 at $93.89.  Ribs were sharply higher.  Hams, bellies, and picnics were also higher.  Butts and loins were lower.