Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  The lone bid to have surfaced is at $178 live in Kansas.  Asking prices are around $182 live in the South, but still haven’t been established in the North.  Packer inquiry could improve yet today, but it is more than likely significant trade volume will be delayed until sometime Thursday or Friday.

Boxed beef was lower at midday on light demand for solid offerings.  Choice is $.22 lower at $308.01 and Select was $2.54 lower at $294.47.  The Choice/Select spread is $13.54. 

At the Ozarks Regional Stockyards in Missouri, stocker and feeder calves, 600 to 800 pounds were steady to $4 higher.  Heavier weights were not well tested.  Steer and heifer calves under 600 pounds were $4 to $8 lower.  The USDA says demand was good and improved throughout the day.  Supply was moderate.  Quality was average, except a few reputation herds that were in the offering.  Receipts were up from last week, but down on the year.  Feeder supply included 56% steers and 51% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 602 to 648 pounds brought $259 to $275 and feeder steers 654 to 684 pounds brought $250 to $269.  Medium and Large 1 feeder heifers 556 to 596 pounds brought $244 to $264 and feeder heifers 601 to 645 pounds brought $237 to $256. 

Cash hogs were not reported at midday with fairly light negotiated purchases. The cash hog market has been active at the start of the week, and processors have been moving needed numbers without having to get too aggressive in their procurement efforts.  The hog market is finding support from the strong demand for U.S. pork on the global market.  Hog weights jumped this week to 284 pounds, that’s more than 3 pounds above last week and 5 pounds heavier than last year.  Ensuring there is plentiful pork supplies. The 5-day rolling average for barrows and gilts at the National Daily Direct is $77.57.  At the Iowa/Minnesota and the Western Corn Belt it is $78.01.  The rolling average for the Eastern Corn Belt is $76.34. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were steady with moderate demand for heavy 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 lower at midday – down $1.52 at $93.28.  Ribs and loins were sharply lower.  Bellies, picnics, hams, and butts were higher.