Market News

Midday cash livestock markets

Cash cattle country has a few bids that have been renewed Wednesday in parts of Kansas and Texas. Some asking prices are around $190 in the South, but are still not established in the North. Significant trade volume will likely be delayed until Thursday or Friday. Private sources have said a light scattered business took place in parts of the South on Tuesday at $188, but that has not been confirmed by USDA.

Beef cutouts are mixed at midday with light to moderate box movement. Choice is down $.41 at $325.25 and Select is $1.24 higher at $305.55. The Choice/Select spread is $19.70.

At the Callaway Livestock Center in Missouri, Monday’s sale featured an 800 head consignment of top quality/reputation home raised calves along with several consignments of pot loads, strings and large groups. Feeder steers under 600 pounds sold fully steady to firm with heavier weights $5 to $12 higher. Feeder heifers under 700 pounds traded $5 to $15 higher with some spots $20 higher. USDA says demand was very good on a moderate to heavy supply. Feeder supply included 60% steers and 48% of the offering was over 600 pounds.

Cash hogs are steady to modestly lower with light opening negotiated numbers at the major direct markets. The big question at midweek is if buyers have caught up after Tuesday’s strong negotiated movement, or if some are still in need of near-term supplies. The up-and-down movement in the wholesale market is probably keeping some of those buyers cautious about making a big move either way. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting region last week was 285.3 pounds, up nine tenths of a pound from the previous week and 7.5 pounds from last year.

Barrows and gilts at the National Daily Direct were down $.56 with a base range of $85 to $91, and weighted average of $88.76. The Iowa/Minnesota and Western Corn had no comparisons, but weighted average of $89.31. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets were steady at $60; sows were steady at $54 to $60; boars were priced at $18. Illinois direct sows were $2 lower with a range of $53 to $65, and boars were marked at $8 to $28.

Pork values were higher at midday – up $1.44 at $95.19. Bellies, picnics, butts, and loins were higher. Hams and ribs were lower.