Market News

Midday cash livestock markets

Cash cattle country is off to another slow start on Tuesday with bids and asking prices not fully established. Significant trade volume will likely be delayed until Wednesday or later, but it could once again be much later in the week if the recent trend holds.

Boxed beef was lower at midday with Choice down $4.87 at $325.60 and Select $1.69 lower at $303.03. The Choice/Select spread was $22.57.

At the Joplin Regional Stockyards in Missouri, feeder steers were $2 to $9 higher compared to the most recent sale, with some light 5 weight steers selling $15 higher. Feeder heifers under 800 pounds were $5 to $9 higher with heavier weights selling steady to $2 lower. USDA says the supply was heavy with very good demand. More than 10,000 head went across the scales in just over 11 hours. Feeder supply included 64% steers and 80% of the offering was over 600 pounds. Medium and Large 1 feeder steers 800 to 847 pounds brought $255 to $266. Medium and Large 1 feeder heifers 651 to 691 pounds sold for $248 to $275.

Cash hogs are mixed with moderate opening negotiated numbers at the major direct markets. It does look like some buyers are short bought and in need of near-term supplies. Wholesale trade is a little softer at midday and there are the continued concerns about sustained domestic demand, which is also a background factor for cash business and could limit buyer interest.

Barrows and gilts at the National Daily Direct were up $2.59 with a base range of $77 to $91 and weighted average price of $89.32. The Iowa/Minnesota and Western Corn Belt weren’t reported due to confidentiality. The Eastern Corn Belt had no comparison, but a weighted average of $89.86.

Butcher hogs at the Midwest cash markets were steady at $60; slaughter sows were steady at $54 to $60; boars were priced at $18. At Illinois, slaughter sows were $3 lower at $55 to $67; boars ranged from $8 to $28.

Pork values were lower at midday – down $.44 at $95.55. Hams, picnics, and butts were higher. Bellies, ribs, and loins were lower.