Market News

Midday cash livestock markets

Direct cash cattle trade is quiet as buyers and sellers prepare for the week ahead.  While it’s Tuesday, it’s very much setting up like a typical Monday.  Bids and asking prices have yet to surface and significant trade volume will likely be delayed until midweek or later.  Deals last week were marked at $182 to $183, steady to $1 lower than the previous week’s weighted averages.  Northen dressed business had a range of $288 to $293, mostly $290 to $292, $2 to $4 lower than the prior week’s weighted average basis in Nebraska 

Boxed beef is higher at midday – up $2.14 at $311.48 and Select is $3.80 higher at $299.62.  The Choice/Select spread is $11.86. 

In Missouri last week, feeder steers and heifers under 700 pounds were $4 to $10 lower, and weights over 700 pounds were steady to $5 lower.  The USDA says supply was light overall.  There were several load lots of yearlings scattered around barns.  Extreme late summer heat and lower markets kept many producers from selling cattle this past week.  Receipts were down on the week and the year.  Feeder supply included 55% steers and 64% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 800 to 849 pounds brought $230 to $250.50.  Medium and Large 1 feeder heifers 653 to 698 pounds brought $240 to $257. 

Cash hog prices were delayed at midday due to packer submission problems. When business resumes following the long holiday weekend, processors may start the short week more aggressive in their procurement efforts.  That could be good news for prices. Demand for U.S. pork on the global market has been strong, and that’s helping provide price support.  But domestic demand has been sluggish.  The industry is also watching available supplies of market-ready hogs and hog weights.  The calendar has turned to September and many industry experts will start looking ahead to the Quarterly Hogs and Pigs report which comes out later this month.   

Butcher hog prices at the Midwest cash markets are $6 lower at $60. 

At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $51 to $63.  Barrows and gilts were steady at $45 to $55.  Boars ranged from $18 to 428 and $8 to $15. 

Pork values were sharply higher at midday – up $3.22 at $134.43.  Bellies, ribs, hams, picnics, and loins were all sharply higher.  Butts were higher.