Market News

Midday cash livestock markets

There is another light round of direct cash cattle trade that’s been reported.  Deals in Kansas are at $181 live, fully steady with Thursday’s business.  Asking prices are around $182-plus live in the South and $290-plus dressed in the North.  There was a light trade reported in the South on Thursday with live deals marked at $181, $2 lower than the previous week’s weighted averages.  Northern dressed business was marked at mostly $288, $2 lower than the prior week’s weighted average basis in Nebraska. 

Boxed beef is lower at midday on light demand for moderate offerings.  Choice is $1.92 lower at $309.59 and Select is $.98 lower at $295.80.  The Choice/Select spread is $13.79. 

At the Ogallala Livestock Auction in Nebraska, no trend was available.  The USDA says demand was moderate to good.  Receipts were down from the most recent sale, but up on the year.  Feeder supply included 84% heifers and 98% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 700 to 709 pounds brought $261.50 to $263.50 and feeder steers 802 pounds brought $253.  Medium and Large 1 feeder heifers 718 to 747 pounds brought $235 to $247.50 and feeder heifers 801 to 844 pounds brought $228 to $234.50. 

Cash hogs are lower at midday with moderate negotiated purchases.  After a couple of solid days of business, processors likely have most of their needed numbers on hand and aren’t as aggressive in their procurement efforts.  While export sales were down this week, overall demand for U.S. pork on the global market has been strong and that’s helping to provide price support.  Domestic demand remains a concern.  The industry also continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $.83 lower with a base range of $67 to $78 and a weighted average of $76.87 and the Eastern Corn Belt had a weighted average of $76.34.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at midday. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $51 to $63.  Barrows and gilts were steady with moderate demand for moderate offerings at $45 to $55.  Boars ranged from $18 to $28 and $8 to $15. 

Pork values were higher at midday – up $1.27 at $96.14.  Hams were sharply higher.  Loins were also higher.  Picnics, bellies, and butts were modestly lower.