Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. It looks like a normal start to the week, with no bids or asking prices as buyers and sellers get a look at this week’s show list. Last week’s business was mostly $2 lower on the live basis in the south at $183 and down generally $5 lower dressed at $293. The USDA’s most recent Cattle on Feed report showed a higher move in placements during July, implying increased market ready numbers starting later this year.

At the Crawford Livestock Auction feeder cattle sale in Nebraska, there was no applicable trend, with no sale reported since June 21^st. The USDA says receipts were up from that previous test and above a year ago, with moderate to good demand on fall calves, yearlings, P.O. heifers, spayed heifers, and a few bulls. 94% of the offering were feeder cattle with half of those steers and nearly all feeders weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 800 to 900 pounds sold at $229 to $244 and 900-to-1,000-pound steers ranged from $220 to $231.50. Medium and Large 1 feeder heifers weighing 700 to 800 pounds brought $235 to $245.50 and spayed heifers weighing 850 to 950 pounds were reported at $218 to $227.

Boxed beef at midday was lower with light movement. Choice was down $.36 at $316.98 and Select beef was $1.45 lower at $299.01 for a spread of $17.97.

Cash hog business is steady with very light opening negotiated numbers at the major direct markets. As is the case for most Mondays, buyer interest is limited as they get a look at the available ready supplies and weekend retail clearance numbers. Early indications are that retail clearance was slow and the wholesale market continues to be somewhat inconsistent.

The openings for the major direct barrow and gilt markets were not reported due to confidentiality. The five-day rolling average for national direct barrows and gilts is $82.95, with Iowa/Southern Minnesota at $82.39, the Western Corn Belt at $83.28, and the Eastern Corn Belt at $79.79. The butcher hog markets at Dorchester, Wisconsin and Garnavillo, Iowa are steady at $66.

Pork at midday was down $4.21 at $97.84. Loins, butts, hams, and bellies were weak to sharply lower, canceling out gains in picnics and ribs.