Market News

Midday cash livestock markets

Direct cash cattle trade has been quiet to start the day again.  Bids haven’t surfaced.  Asking prices were at $186 to $187-plus live in the South, and $300 dressed in the North.  A handful of deals were reported on Wednesday, but not enough to establish an accurate price trend.  Look for more business to develop before the end of the day Friday.

Boxed beef is sharply higher at midday on solid demand for moderate offerings.  Choice is $2.74 higher at $309.51 and Select is $3.09 higher at $297.40.  The Choice/Select spread is $12.11.

At the Hub City Livestock Auction in South Dakota, the best test on steers was 900 to 949 pounds, which were $2 to $3 higher.  Steers 950 to 999 pounds were mostly steady.  Heifers were not well compared.  The UDSA says demand was good to very good for the day’s offering featuring several strings of backgrounded cattle along with loads and packages of mostly home-raised cattle.  Most cattle were carrying some flesh, quite a few in moderate-plus flesh.  Quality varied, but was mostly average to attractive.  The market was active.  Receipts were up on the week and the year.  Feeder supply included 55% steers and 83% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 909 to 921 pounds brought $246.75 to $247.25 and feeder steers 955 to 992 pounds brought $228.75 to $238.25.  Medium and Large 1 feeder heifers 808 to 849 pounds brought $240 to $246.25 and feeder heifers 903 to 923 pounds brought $235.25 to $238. 

Cash hogs are firm at midday with moderate negotiated purchases.  Processors have not been forced to bid up to get business accomplished this week. While demand remains strong both on the global market and domestically, this week’s Export Sales hit a marketing year low for pork. In terms of production, the industry’s efficiency sometimes works against itself as it relates to prices.  Ample supplies of market-ready hogs and higher hog weights create a more favorable situation for the buyers rather than the sellers. Barrows and gilts at the National Daily Direct are $.40 higher with a base range of $86 to $90 and a weighted average of $89.36.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $50.  At Illinois, slaughter sow prices were steady with moderate demand for heavy offerings at $35 to $47.  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 lower at midday – down $.76 at $100.94.  Hams, ribs, bellies, and picnics were all lower.  Butts were firm.  Loins were sharply higher. 

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