Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  Bids haven’t surfaced. Asking prices are around $186 live in the South, while they haven’t been established in the North.  Packer inquiry could pick up as the day progresses, but significant trade volume will likely be delayed until sometime Thursday or Friday.

Boxed beef is lower at midday with light demand for fairly light offerings.  Choice is $2.85 lower at $299.24 and Select was $2.32 lower at $297.58.  The Choice/Select spread is $1.66. 

At the Kingsville Livestock Auction in Missouri, steers were uneven.  Calves under 500 pounds and yearlings over 650 pounds were mostly steady.  But the middleweight calves from 500 to 650 pounds lost the gains from last week and were $5 to $15 lower on lighter demand.  Heifers were steady to $5 higher, except calves 450 to 550 pounds which were $5 to $10 lower.  The USDA says demand was moderate for a heavy supply.  There were several long strings of yearlings on hand, along with some fancy new crop calves.  Receipts were up on the week and the year.  Feeder supply included 45% steers and 63% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 503 to 548 pounds brought $297.50 to $328 and feeder steers 621 to 649 pounds brought $282 to $294.  Medium and Large 1 feeder heifers 711 to 738 pounds brought $234.50 to $246.75. 

Cash hogs have no comparison at midday but solid negotiated purchases. The cash hog market continues to benefit from strong demand.  Processors got aggressive in their procurement efforts Tuesday afternoon and bid up to move needed numbers.  There could be a repeat this afternoon.  Demand for US pork on the global market has been strong, and domestic demand has been picking up – both are very supportive of prices.  The industry continues to monitor the availability of market-ready hogs and hog weights, which, are up .9 pounds on the week and up 0.6 pounds on the year.   Barrows and gilts at the National Daily Direct had a base range of $80.50 to $93 and a weighted average of $89.53.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were $1 lower with moderate demand for moderate offerings at $47 to $59.  Barrows and gilts were $3 higher with moderate demand for moderate offerings at $50 to $60.  Boars ranged from $15 to $25 and $8 to $15. 

Pork values were firm at midday – up $.17 at $100.88.  Ribs, picnics, loins, and butts were all higher.  Bellies were sharply lower.  Hams were weak.

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