Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a typically quiet start to the week with bids and asking prices not established.  Buyers and sellers are readying for the week’s business.  Significant trade volume will likely be delayed until midweek or later. Last week, southern live deals had a range of $180 to $184, mostly $182, fully steady with the prior week’s weighted averages.  Northern dressed business ranged from $290 to $303, mostly $294, generally $2 higher than the previous week’s weighted averages. 

Boxed beef is higher at midday on solid demand for moderate offerings.  Choice is $.40 higher at $297.54 and Select is $2.27 higher at $290.99.  The Choice/Select spread is $6.55. 

In Missouri last week, feeders were $2 to $7 higher.  The supply of feeders was moderate with a good selection of feeders across all weight ranges.  The USDA says demand was good for the moderate offerings.  Receipts were down slightly on the week and the year.  Feeder supply included 49% steers and 48% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 549 pounds brought $285 to $349 and feeder steers 550 to 597 pounds brought $270 to $340.  Medium and Large 1 feeder heifers 500 to 548 pounds brought $250 to $304 and feeder heifers 550 to 599 pounds brought $235 to $289. 

Cash hog prices were not reported at midday due to confidentiality.  Processors have been aggressive in their procurement efforts as numbers are needed to meet the uptick in slaughter pace.  Demand for US pork on the global market has been strong and domestic demand continues to improve.  All have been supportive to prices.  Business to start the week is unsurprisingly slow, but if the trend follows recent weeks, it should pick up.  The industry continues to monitor hog weights and the market-ready hog availability.

Butcher hog prices at the Midwest cash markets are $2 lower at $50. At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $42 to $54.  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 sharply higher at midday – up $7.09 at $104.72.  Bellies jumped nearly $32.  Hams were sharply higher.  Loins were also higher.  Butts, picnics, and ribs were lower.