Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start, typical for a Monday.  Bids and asking prices have yet to surface.  It’s likely significant trade volume will be delayed until the latter half of the week.  Live deals in the South last week ranged from $177 to $182, mostly $181, which was generally steady with the previous week’s business.  Dressed business in the North ranged from $287 to $294, mostly $288, also about steady with the prior week’s weighted average basis. 

Boxed beef is higher at midday on solid demand for decent offerings.  Choice is $.06 higher at $304.97 and Select is $1.63 higher at $295.80.  The Choice/Select spread is $9.17. 

At the Ft. Pierre Livestock Auction in South Dakota on Friday, steers 800 to 899 pounds were steady to $2 higher, the best test on heifers were 750 to 799 pounds which were steady to $6 higher.  Heifers 800 to 999 pounds were steady to $2 higher.  Other weight classes were too lightly tested for an accurate market comparison.  The USDA says there were several consignments offered.  Loads and packages of tested open heifers were met with good demand.  Some plainer-appearing cattle in the offering were met with a more moderate demand.  The market was active.  Most of the cattle were light to moderate fleshed and came off gras, there were some in moderate-plus flesh that came out of grow yards.  Receipts were up from two weeks ago and on the year.  Feeder supply included 80% heifers, and 96% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 808 to 826 pounds brought $243.50 to $258.50 and feeder steers 953 to 992 pounds brought $229 to $240.  Medium and Large 1 feeder heifers 768 to 790 pounds brought $246 to $248 and feeder heifers 856 to 883 pounds brought $234 to $242. 

Cash hogs are lower at midday, with just a handful of negotiated purchases.  Processors moved decent numbers last week without having to get too aggressive in their procurement efforts.  That lackluster end to the week appears to have been carried over into his week.  Demand for U.S. pork on the global market has continued to be a bright spot, but domestic demand has been sluggish and that’s a concern.  Supplies of market-ready hogs are ample and the industry continues to monitor hog weights. Barrows and gilts at the National Daily Direct were $.94 lower with a base range of $75 and a weighted average of $75.  Prices at the Iowa/Minnesota, the Western Corn Belt, and the Eastern Corn Belt were not reported at midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were steady 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 higher at midday – up $1.09 at $94.99.  Ribs, loins, and picnics were sharply higher.  Butts and bellies were higher.  Hams were sharply lower.