Market News

Midday cash livestock markets

Another slow start for direct cash cattle business.  Bids haven’t surfaced.  Asking prices are around $187-plus live in the South, but still not established in the North. Significant trade volume will likely be delayed until the latter half of the week.  

Boxed beef lower at midday with light demand for solid offerings.  Choice is $1.89 lower at $313.66 and Select is $.30 lower at $301.71.  The Choice/Select spread is $11.95.  

At the Joplin Regional Stockyards in Missouri, feeder steers were $6 lower to $7 higher.  Feeder heifers sold form $2 lower to $10 higher.  The USDA says supply was moderate with good demand.  Receipts were down on the week, but up on the year.  Feeder supply includes 56% steers and 59% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 693 pounds brought $273 to $291 and feeder steers 908 to 923 pounds brought $231 to $240.  Medium and Large 1 feeder refers 558 to 595 pounds brought $260 to $287 and feeder heifers 700 to 728 pounds brought $240 to $255.  

Cash hogs had no comparison at midday with solid negotiated purchases.  Processors are off to more aggressive start in their procurement efforts and are moving larger numbers.  Demand for U.S. pork on the global market is strong, helping provide some price support to the market, but domestic demand has been uncertain.  The industry continues to monitor the availability of market-ready hogs and hog weights.

Barrows and gilts at the National Daily Direct had a base range of $81 to $85 and a weighted average of $84.22; the Iowa/Minnesota had a weighted average of $83.39; the Western Corn Belt had a weighted average of $84.32.  The Eastern Corn Belt were not reported due ton confidentiality.  

Butcher hog prices are steady at midday at $69.  At Illinois, slaughter sow prices were steady with moderate demand of moderate 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 are higher at midday – up $.40 at $97.49.  Bellies were sharply higher.  Hams were higher.  Butts and ribs were also higher.  Loins and picnics are lower to sharply lower.