Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet following the active day on Thursday.  A few bids have been renewed in Kansas at $186 live and in Nebraska at $307 dressed.  Asking prices for what’s left on showlists are around $187-plus live in the South and $308-plus dressed in the North.  A little cleanup trade could take place before the end of the day, but the week’s business has likely wrapped up.  Southern live deals were at mostly $186, $1 higher than the previous week’s weighted averages.  Dressed deals in the North were at mostly $305 to $306, $4 to $5 higher than the prior week’s weighted average basis in Nebraska. 

Boxed beef is higher and sharply higher at midday on solid demand for moderate offerings.  Choice is $1.50 higher at $319.81 and Select is $3.80 higher at $303.05.  The Choice/Select spread is $16.76. 

At the Mitchell Livestock Auction in South Dakota, yearling feeder steers were $2 to $5 higher with instances of $8 to $10 higher.  Yearling feeder heifers were $10 to $12 higher.  The UDSA says there was a very large offering of yearling steers and heifers this week.  There were many long strings offered in full loads and multiple load lots.  The market was extremely active with plenty of buyers in seats.  There was a large selection of all kinds of qualities and a wide range of flesh conditions.  Receipts were up significant on the week and the year.  Feeder supply included 40% steers and 96% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 850 to 897 pounds brought $237 to $261.50 and feeder steers 964 to 996 pounds brought $227 to $242. Medium and Large 1 feeder heifers 810 to 847 pounds brought $227 to $238 and feeder heifers 852 to 895 pounds brought $222 to $236. 

Cash hogs are higher at midday with moderate negotiated purchases.  Processors have been a little more aggressive in their procurement efforts and have bid up to move needed numbers this morning.  Demand for US pork has been relatively solid on the global market, which helps provide some price support.  But heavier hog weights and ample supplies of market-ready hogs means there is plenty of pork available. Barrows and gilts at the National Daily Direct are $1.34 higher with a base range of $85 to $92 with a weighted average of $88.30.  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 $1 higher with moderate demand for moderate to heavy offerings at $53 to $65.  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 are sharply higher at midday – up $3.92 at $100.94.  Bellies, butts, loins, and ribs were all sharply higher.  Hams were higher.  Picnics were lower.  

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