Market News

Midday cash livestock markets

Another light round of direct cash cattle business is underway.  Live deals in the South are at $185, $1 to $2 below the previous week’s business.  There have also been deals reported in the North at $190 live, $2 to $3 below the previous week’s business.  This follows the light trade on Thursday, where dressed deals in the North were marked at $298, $6 lower than the prior week’s weighted averages.  Asking prices are at $187 to $188 live in the South, but still not fully established in the North.  Look for more business to develop before the end of the day.

Boxed beef is higher at midday on good demand for solid offerings.  Choice is $.59 higher at $317.53 and Select is $1.05 higher at $303.08.  The Choice/Select spread is $14.45. 

At the Winter Livestock Auction in Kansas, feeder steers and heifers 725 pounds to 950 pounds were steady to $2 lower.  Front-end steers and heifers were steady to $2 higher.  There were not enough steers and heifers 400 to 725 pounds for an accurate market test.  The USDA says demand was good.  Receipts were up on the week and the year.  Feeder supply included 70% steers and 96% percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 800 to 848 pounds brought $240 to $250 and feeder steers 863 to 899 pounds brought $234.50 to $249.50.  Medium and Large 1 feeder heifers 772 to 798 pounds brought $230 to $240.75 and feeder heifers 771 to 794 pounds, fancy, brought $245 to $246.50. 

Cash hogs are lower at midday with very light negotiated purchases.  The cash hog market has had a solid week of business.  It is likely processors have needed numbers on hand and could very easily back of procurement efforts to finish out the week.  The industry continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $2.51 lower with a base range of $81.25 to $83 and a weighted average of $82.60.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $69. At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $51 to $63.  Barrows and gilts were steady with moderate demand for moderate offerings at $48 to $58.  Boars ranged from $18 to $28 and $8 to $15. 

Pork values were lower at midday – down $.95 at $98.92.  Bellies were sharply lower.  Butts, hams, and loins were lower.  Ribs and picnics were higher.