Market News

Midday cash livestock markets

Direct cash cattle trade activity is slow to develop again today.  Bids remain elusive.  Asking prices are around $192 to $194 live in the South and $315 dressed in the North.  Packer inquiry could pick up as the day progresses, but significant trade volume could be delayed until sometime on Friday. 

Boxed beef is steady to firm at midday with moderate demand for moderate offerings.  Choice is $.35 higher at $323.20 and Select is $.04 higher at $302.90.  The Choice/Select spread is $20.30. 

At the Huss Livestock Market in Nebraska, a thin test compared to two weeks ago.  Steers 800 to 850 pounds were $6 higher, and heifers 800 to 850 pounds were $4 higher.  The USDA says demand was moderate to good from the buyers in the crowd.  Receipts were down significantly on the week and the year.  Feeder supply included 42% steers and 96% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 772 to 790 pounds brought $271 to $277 and feeder steers 909 pounds brought $256.25.  Medium and Large 1 feeder heifers 701 to 722 pounds brought $256 to $265 and feeder heifers 808 to 843 pounds brought $238 to $246. 

Cash hogs are higher at midday with moderate negotiated purchases. There were a couple of solid days of business to start the week, but then packers pulled back on their procurement efforts Wednesday afternoon and weren’t aggressive in doing business.  Demand on the global market for US pork has been strong – and could see an even greater boost as prices have pulled back some.  But the reality is, there is plenty of pork available.  Supplies of market-ready hogs are ample and hog weights are still generously positioned from year-ago levels. Barrows and gilts at the National Daily Direct are $.85 higher with a base range of $82 to $93.50 and a weighted average of $89.59 and the Eastern Corn Belt had no comparison but a weighted average of $85.92.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets were steady at $66. At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $61 to $73.  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 $2.37 at $93.15.  Ribs and bellies were both sharply lower.  Butts, loins, and picnics were lower.  Hams were higher.