Market News

Midday cash livestock markets

Cash cattle country is off to a sluggish start Thursday with asking prices around $189 to $191 in the South, but still not fully established in the North. Bids remain elusive, but packer inquiry is expected to improve as the day progresses. Significant trade volume could be delayed until sometime on Friday.

Boxed beef cutout values were mixed at midday with Choice up $.81 at $314.43 and Select down $.28 at $302.20. The Choice/Select spread was $12.23

At Winter Livestock in Dodge City, Kansas, feeder steers under 700 pounds were not well tested with over 700 pounds selling unevenly steady. Feeder heifers over 600 pounds brought $7 to $9 higher compared to the most recent sale. USDA says slaughter bulls sold steady to $2 higher. Feeder supply included 35% steers and 87% of the overall offering was over 600 pounds. Medium and Large 1 feeder steers 710 to 722 pounds brought $269 to $276 and feeder steers 804 to 847 pounds sold for $241 to $258. Medium and Large 1 feeder heifers 674 to 678 pounds brought $247 to $248.50 and feeder heifers 857 to 892 pounds sold for $223 to $227.60.

Cash hogs are mixed with a light to moderate opening negotiated run at the major direct markets. It looks like many buyers have most of the rest of the week’s needs in hand following Wednesday’s movement. There continue to be uncertainties about sustained wholesale demand even after the start of the summer grilling season. The USDA’s weekly export sales numbers are out Friday, delayed Memorial Day.

Barrows and gilts at the National Daily Direct were up $.02 with a base range of $85 to $90 and weighted average price of $87.66. The Western Corn Belt was down $.64 with a weighted average of $88.27. The Iowa/Minnesota and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets were trending steady at $55; slaughter sows were steady at $36 to $39; boars were marked at $12. At Illinois, slaughter sows were steady with moderate demand for moderate offerings at $36 to $48; barrows and gilts were steady with moderate demand for moderate offerings at $51 to $61; boars were priced at $18 to $28 and $8 to $15.

Pork values were higher at midday – up $.49 at $102.23. Bellies and loins were higher. Hams, ribs, picnics, and butts were lower.

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