Market News

Midday cash livestock markets

Another light round of direct cash cattle trade has been reported.  Live deals in parts of Eastern Nebraska are at $293 to $295 dressed, steady with this week’s business.  A few bids have been renewed at $182 live in Texas.  Asking prices for what’s left on showlists are around $183 to $184 live in the South and $296 to $298 dressed in the North.  There was a light direct cash cattle trade across most areas on Thursday.  Live deals in the South were at $182, $2 lower than the previous week’s business.  Northern dressed trade ranged from $293 to $295, $2 to $5 below the prior week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday with good demand for solid offerings.  Choice is $2.07 higher at $300.44 and Select is $1.13 higher at $296.28.  The Choice/Select spread is $4.16.

At the Mitchell Livestock Auction in South Dakota, feeder steers and heifers 750 to 950 pounds were unevenly steady.  Feeders carrying extra flesh brought lower prices, while thin-fleshed cattle brought higher prices.  The USDA says demand was good and many large loads were in the offerings.  Receipts were up on the week and down on the year.  Feeder supply included 47% steers and 91% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 808 to 843 pounds brought $245.25 to $258.60 and feeder steers 965 to 996 pounds brought $218.50 to $224.  Medium and Large 1 feeder heifers 763 to 795 pounds brought $228.75 to $245.50 and feeder steers 853 to 886 pounds brought $215.10 to $225.25. 

Cash hogs are lower at midday with light negotiated purchases. Processors were really only aggressive once this week in their procurement efforts and otherwise have been able to do business at lower prices.  Demand for U.S. pork on the global market has been strong and domestic demand is also showing some resilience.  Both are supportive to prices. Available supplies of market-ready hogs and hog weights remain points of interest for the industry. Barrows and gilts at the National Daily Direct are $2.81 lower with a base range of $83 to $88 and a weighted average of $85.42 and the Eastern Corn Belt had a weighted average of $85.12, with no comparison.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were $1 lower at $54. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $47 to $59.  Barrows and gilts were steady with moderate demand for moderate offerings at $51 to $61.  Boars ranged from $15 to $25 and $8 to $15.

Pork values were lower at midday – down $.71 at $100.58.  Ribs were sharply lower.  Hams, picnics, and bellies were lower.  Loins and butts were firm and sharply higher.

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