Market News

Midday cash livestock markets

Direct cash cattle trade has been relatively quiet.  Bids have surfaced in Texas at $180 to $181 live and in Nebraska at $293 to $295 dressed.  Asking prices are around $186 live in the South and $295 to $297 dressed in the North.  There’s only been some scattered business throughout the week.  Look for packer inquiry and business to pick up before the end of the day Friday.

Boxed beef is higher at midday on good demand for solid offerings.  Choice is $.42 higher at $298.65 and Select is $1.11 higher at $297.13.  The Choice/Select spread is at $1.52.

At the Hub City Livestock Auction in South Dakota, the best test was on steers 800 to 949 pounds, which were mostly steady.  The best test on heifers was 700 to 749 pounds, which were $4 lower.  The USDA says demand was moderate to good for feeders, depending on flesh condition.  Backgrounding and grass-type cattle continue to see very good demand.  Quality varied, but mostly average to attractive.  Receipts were down on the week and the year.  Feeder supply included 73% steers and 92% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 803 to 848 pounds brought $247.75 to $264.50 and feeder steers 903 to 941 pounds brought $230.50 to $233.  Medium and Large 1 feeder heifers 673 to 694 pounds brought $256.50 to $266 and feeder heifers 805 to 839 pounds brought $226.50 to $233. 

Cash hogs were lower at midday with moderate negotiated purchases. Processors didn’t have to get too aggressive in their procurement efforts to move needed numbers. Demand for US pork continues to be a bright spot, and this week’s export sales report showed another strong week, with net sales up 65% from last week. Domestic demand has also been showing some strength. The industry also continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $1.30 lower with a base range of $86 to $92 and a weighted average of $88.23.  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 steady with moderate demand for moderate to heavy offerings at $47 to $59.  Barrows and gilts were $1 higher with moderate demand for moderate offerings at $51 to $61.  Boars ranged from $15 to $25 and $8 to $15.

Pork values were higher at midday – up $.86 at $101.11.  Bellies, picnics, and ribs are sharply higher.  Butts, loins, and hams are lower to sharply lower.

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