Market News

Midday cash livestock markets

Direct cash cattle trade is off to a slow start following a couple of days of light activity.  Bids have surfaced at $184 live.  Asking prices are around $184 to $186 live in the South and $295-plus dressed in the North.  There’s been some scattered business throughout the week, and more trade is expected before the end of the day Friday. So far this week deals in the Southern live deals have been marked at $183, $2 lower than the previous week’s weighted averages.  Northern dressed business has had a very wide range of $290 to $295, mostly $293, $5 below the prior week’s weighted averages. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.35 higher $316.56 and Select is $1.69 higher at $302.77.  The Choice/Select spread is $13.79.

At the Bassett Livestock Auction in Nebraska, steers 900 to 1000 pounds were $8 to $15 lower.  Heifers 800 pounds were $5 lower.  The USDA says demand was moderate to good with several buyers in house and online.  Receipts were up on the week and the year.  Feeder supply include 62% steers and 92% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 918 to 943 pounds brought $234 to $238 and feeder steers 1016 to 1043 pounds brought $223.50 to $227.50.  Medium and Large 1 feeder heifers 827 to 838 pounds brought $235 to $240 and feeder heifers 980 to 996 pounds brought $215.50 to $224. 

Cash hogs are higher at midday with fairly light negotiated purchases.  Processors are a little more aggressive in their procurement efforts to start the day and prices have reflected that.  While export sales for U.S. pork hit a marketing year low last week, demand overall on the global market has been strong and that’s been helping to limit any big losses.  The industry continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $1.21 higher with a base range of $81 to $84.50 and a weighted average of $83.36.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hogs at the Midwest cash markets were steady at $66. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $53 to $65.  Barrows and gilts were $1 lower with moderate demand for moderate offerings at $47 to $57.  Boars ranged from $18 to $28 and $8 to $15.

Pork values were $2.18 higher at $96.73.  Hams, bellies, ribs, loins, and butts were all higher.  Picnics were lower.