Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet, with bids and asking prices not yet developed.  Buyers and sellers are preparing for the week ahead.  It’s likely significant trade volume is going to hold out until the last half of the week. It took until Friday for any business to develop last week.  Live deals in the South ranged from $180 to $183, mostly $182, generally steady with the previous week’s business.  Dressed business ranged from $292 to $294, mostly $292, $1 lower than the prior week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday – on good demand for moderate offerings. Choice is $.24 higher at $295.91 and Select is $.60 higher at $291.43.  The Choice/Select spread is $4.48. 

In Nebraska last week, steers less than 550 pounds were uneven, steers 550 to 650 pounds were $10 higher, and steers over 650 pounds were sharply higher.  Heifers under 450 pounds were weak, heifers 450 to 750 pounds were mostly $10 higher, heifers 750 to 850 pounds were $6 to $7 lower, and heifers over 850 pounds were $5 higher.  The USDA says demand ranged from moderate to good, with the best demand on steers 600 pounds.  Receipts were down on the week and up slightly on the year.  Feeder supply included 55% steers and 54% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $291 to $334, and feeder steers 710 to 743 pounds brought $264 to $305.50.  Medium and Large 1 feeder heifers 550 to 595 pounds brought $272 to $298, and feeder heifers 653 to 693 pounds brought $231 to $268. 

Cash hog prices were not reported at midday due to confidentiality. Mondays for the cash hog market can be described as sluggish, at best. Processors haven’t been aggressive in their procurement efforts to start the week, and that isn’t likely to change today. Demand for U.S. pork has been strong on the global market, and domestic demand has been showing some strength. Both have been very good for prices. The industry continues to monitor the availability of market-ready hogs compared to demand and hog weights. 

At Illinois, slaughter sow prices were steady with moderate demand for light offerings at $45 to $57.  Barrows and gilts were steady with moderate demand for moderate offerings at $51 to $61.  Boars ranged from $18 to $28 and $8 to $15. 

Pork values were higher at midday – up $1.56 at $101.65.  Ribs, picnics, bellies, and hams were higher.  Loins and butts were lower.