Market News

Midday cash livestock markets

Direct cash cattle trade activity remains relatively quiet.  Bids still haven’t surfaced.  Asking prices are around $188-plus live in the South, but still not established in the North.  Packer inquiry could improve as the day progresses, but it’s more than likely significant trade volumes are going to hold out until sometime Thursday or Friday.

Boxed beef is lower at midday on light demand for moderate offerings.  Choice is $.28 lower at $312.94 and Select is $1.68 lower at $301.50.  The Choice/Select spread is $11.44. 

At the Ozarks Regional Stockyards in Missouri, feeder steers and heifers were steady.  Steer and heifer calves were steady to $5 higher.  The UDSA says demand was good on a light supply.  The offering was average in quality.  Some six-weight steers and five-weight heifers broke the $3 mark this week.  Receipts were down on the week and up on the year. Feeder supply included 45% steers and 25% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 558 to 591 pounds brought $310 to $320 and feeder steers 600 to 638 pounds brought $290 to $317.50. Medium and Large 1 feeder heifers 500 to 530 pounds brought $284 to $313 and feeder heifers 604 to 620 pounds brought $252.50 to $256. 

Cash hogs are higher at midday with solid negotiated purchases.  Processors appear to be in the buying mood and have been bidding up to procure needed numbers.  It remains to be seen just how long this will last.  Demand for US pork on the global market has been strong, and domestic demand is showing some strength as the calendar turns to spring and grilling season gets closer. The industry continues to monitor the availability of market-ready hogs and hog weights, which were down about a half pound on the week and 0.3 pounds above year-ago levels. Barrows and gilts at the National Daily Direct are $1.11 higher with a base range of $75 to $83 and a weighted average of $80.97.  Prices at the regional direct markets 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 to 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 lower at midday – down $.99 at $92.38.  Ribs and bellies were both sharply lower.  Butts, loins, and picnics were also lower.  Hams were higher.