Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to another very slow start.  Bids remain elusive.  Asking prices have surfaced at $184 to $185 live out of the South, but still haven’t been established in the North.  Significant trade volume is likely going to be delayed until sometime Thursday or Friday, especially with the Cattle on Feed numbers out Friday.

Boxed beef is lower at midday with light demand for moderate offerings.  Choice is $.36 lower at $303.55 and Select is $.61 lower at $291.61.  The Choice/Select spread is $11.94. 

At the Ozarks Regional Stockyards in Missouri, feeder steers and heifers sold $3 to $5 higher.  Steer and heifer calves under 700 pounds were uneven – from $3 lower to $3 higher. The USDA says demand was good on a light supply.  Receipts were down on the week and the year.  Feeder supply included 48% steers and 53% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 594 pounds brought $264 to $278 and feeder steers 653 to 699 pounds brought $249 to $261.  Medium and Large 1 feeder heifers 603 to 640 pounds brought $239 to $246 and feeder heifers 651 to 677 pounds brought $241 to $249. 

Cash hog prices were not reported at midday, with just a handful of negotiated purchases. While processors have been more aggressive in their procurement efforts and bidding up to move needed numbers, they appear to have pulled back at midweek.  Hog weights have dropped about half a pound on the week but are still more than 4.5 pounds above year-ago levels.  Demand for U.S. pork on the global market continues to be a bright spot, but domestic demand has struggled, which adds uncertainty to the market.

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 $20 to $30 and $15 to $25. 

Pork values were higher at midday – up $1.08 at $96.08.  Loins, butts, ribs, and hams were all higher.  Bellies and picnics were weak to lower.