Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet, typical for a Tuesday.  Bids haven’t surfaced.  Asking prices have been floated in the South at $182, but still haven’t been established in the North.  Significant trade volume will likely be delayed until sometime Thursday or Friday. 

Boxed beef is mixed at midday – on good demand for moderate offerings.  Choice is $1.06 higher at $309.58 and Select is $.01 lower at $298.48.  The Choice/Select spread is $11.10. 

At the Joplin Regional Stockyards in Missouri, compared to two weeks ago feeder steers sold from $5 lower to $6 higher.  Feeder heifers were $3 to $8 lower.  The USDA says supply was heavy on good demand.  Receipts were up on the week and the year.  Feeder supply included 69% steers and 74% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $256 to $279 and feeder steers 906 to 948 pounds brought $222.50 to $233.  Medium and Large 1 feeder heifers 600 to 641 pounds brought $240 to $254 and feeder heifers 655 to 683 pounds brought $236 to $251. 

Cash hogs have no comparison at midday with solid negotiated purchases.  Processors appear to continue their more aggressive procurement efforts from Monday and are moving decent numbers.  Global demand for U.S. pork continues to be a bright spot, and that’s helping provide some price support.  Concerns about domestic demand linger, providing uncertainty.  The industry is monitoring the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct have a base range of $67 to $78.50 and a weighted average of $77.82; the Iowa/Minnesota and the Western Corn Belt had weighted averages of $78.01.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were $2 higher with moderate demand for moderate offerings at $53 to $65.  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 weak at midday – down $.17 at $95.55.  Picnics, hams, bellies, butts are all lower.  Loins and ribs are higher.