Market News

Midday cash livestock markets

Cash cattle country has some light trade developing in parts of western Nebraska with live deals at $198, $1 higher than the previous week. The rest of the trade has been quiet on Friday, but packer inquiry should continue to improve as the day progresses. Live bids are at $188 in Kansas and $198 in Nebraska. Dressed bids are reported at $312 in Nebraska. Asking prices are around $192 to $195 in the South and $315-plus in the north.

Beef cutouts were higher at midday with light to moderate box movement. Choice was up $2.40 at $325.73 and Select was $2.11 higher at $304.81. The Choice/Select spread was $20.92.

At the Bassett Livestock Auction in Nebraska, there was no recent test of market for an accurate comparison and a trend was not given for feeder steer or heifer offerings. USDA says demand was good for all offerings of weaned fall calves and yearlings off grass. There were several buyers at the barn with active internet bidding. Feeder supply included 47% steers and 76% of the offering was over 600 pounds. Medium and Large 1 feeder steers 603 to 648 pounds brought $313 to $338 and feeder steers 1000 pounds and up brought $246 to $250.25. Medium and Large 1 feeder heifers 550 to 598 pounds sold for $320 to $348 and feeder heifers 854 to 883 pounds brought $234.25 to $246.25.

Cash hogs are mixed at midday with a light negotiated opening run at the major direct markets. It should be a quiet end to what hasn’t been a very aggressive week, with buyers using their leverage to get the needed near-term numbers. Trade this upcoming week could also be slow, with some operations expected to be closed Thursday, the 4th, for Independence Day. Exports have been solid, but sustained domestic demand remains a question mark, reflected in the recent wide swings in the wholesale market.

Barrows and gilts at the National Daily Direct are down $2.13 with a base range of $85 to $89 and weighted average price of $87.46. The Iowa/Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported due to confidentiality.

Butcher hog markets in Dorchester, Wisconsin and Garnavillo, Iowa were closed on Friday. At Illinois, slaughter sow prices are $2 higher with moderate demand for moderate to heavy offerings at $63 to $75; barrows and gilts are steady with moderate demand for moderate offerings at $52 to $62; boars are priced at $8 to $28.

Pork values are higher at midday – up $4.93 at $99.83. All cuts were higher.