Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  Bids and asking prices remain slow to surface.  Showlists this week are mixed – higher in Texas, but lower in Nebraska, Colorado, and Kansas.  Activity may pick up this afternoon, but it’s likely any significant business holds out until the latter half of the week.

Boxed beef is higher at midday on solid demand for moderate offerings.  Choice is $.63 higher at $302.70 and Select is $1.70 higher at $301.97.  The Choice/Select spread is $.73. 

At the Joplin Regional Stockyards in Missouri, feeder steers sold from $10 to $20 lower with the most declines on weights under 525 pounds.  Feeder heifers sold from $8 to $15 lower.  The USDA says supply and demand were both moderate.  Receipts were up on the week and down on the year.  Feeder supply included 50% steers and 43% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 597 pounds brought $295 to $317.50 and feeder steers 800 to 847 pounds brought $230 to $245.  Medium and Large 1 feeder heifers 501 to 546 pounds brought $260 to $285 and feeder heifers 601 to 649 pounds brought $232 to $255.

Cash hogs had no comparison at midday with very light negotiated purchases.  Processors haven’t shown a lot of interest in doing business so far today and aren’t getting aggressive in their procurement efforts.  Demand continues to be the story for U.S. pork.  There’s strength in the global market and domestic demand has been climbing back.  Cutout values continue to be consistently inconsistent.  The industry continues to watch the availability of market-ready hogs and hog weights.

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $48 to $60.  Barrows and gilts were steady with moderate demand for moderate offerings at $47 to $57.  Boars ranged from $15 to $25 and $8 to $15. 

Pork values were higher at midday – up $.48 at $100.81.  Hams, loins, picnics, and butts were all higher.  Ribs and bellies were sharply lower.

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