Market News

Midday cash livestock markets

Direct cash cattle trade activity remains relatively quiet.  Bids have surfaced in Kansas at $185 live and in Nebraska at $193 live and $303 dressed.  Asking prices in the South are around $187 to $188 live, while the North has not been established.   While some business could pick up as the day progresses – it’s quite possible significant trade volume holds out until Friday.  There were a handful of deals in Kansas on Wednesday at $185 live, but it isn’t enough to establish an accurate prices trend. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.19 lower at $317.41 and Select is $.24 higher at $299.17.  The Choice/Select spread is $18.24. 

At the Huss Livestock Market in Nebraska, steers 650 to 750 pounds were $6 higher and steers 800 to 850 pounds were $5 lower.  Heifers 650 to 800 pounds were $2 to $4 lower.  The USDA says demand was moderate to good for the buyers present.  Receipts were up on the week and the year.  Feeder supply included 45% steers and 77% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 557 to 593 pounds brought $310.50 to $318.75 and feeder steers 700 to 711 pounds brought $289.75 to $293.  Medium and Large 1 feeder heifers 672 to 679 pounds brought $264.75 to $269 and feeder heifers 814 to 846 pounds brought $235 to $243.50. 

Cash hogs are weak at midday with very light negotiated purchases.  Processors haven’t been aggressive in their procurement efforts early on today.  Demand continues to be a bright spot for the market.  There was another solid export sales report this week, confirming that U.S. pork remains in high demand on the global market.  That is supportive to prices.  While hog weights did decline on the week, they’re still more than 9 pounds higher than year-ago levels which means there’s ample supplies of pork available to the market. Barrows and gilts at the National Daily Direct are $.69 lower with a base range of $86 to $89 and a weighted average of $86.96.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were $3 higher with moderate demand for moderate to heavy offerings at $52 to $64.  Barrows and gilts were steady with moderate demand for moderate offerings at $52 to $62.  Boars ranged from $18 to $28 and $8 to $15. 

Pork values were lower at midday – down $.46 at $98.55.  Butts, bellies, loins, and picnics were all lower.  Hams and ribs are higher. 

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