Market News

Midday cash livestock markets

Cash cattle country has a few bids on the table in parts of the north at $182 on a live basis and $288 dressed, but so far they have been passed. Asking prices in this area have not been established for the week. In the south, asking prices are around $184 to $185. Significant trade volume could be delayed until Friday. The USDA says beef export sales of 15,500 tons were up 36% on the week and 2% from the four-week average, mainly to South Korea, China, and Japan.

Boxed beef cutout values were lower at midday with Choice down $1.01 at $300.37 and Select down $.26 at $289.49. The Choice/Select spread was $10.88.

At the Farmington Regional Stockyards in Missouri on Wednesday, feeder steers and heifers sold $5 to $12 higher compared to the most recent sale. USDA says there were better quality and pre-vac calves in the offering. Slaughter cows and bulls sold $3 lower. Demand was good and the supply was moderate to heavy. Feeder supply included 53% steers and 45% of the offering was over 600 pounds. Medium and Large 1 feeder steers 502 to 549 pounds brought $260 to $285 and feeder steers 755 to 792 pounds sold for $229 to $238. Medium and Large 1 feeder heifers 500 to 548 pounds brought $235 to $260 and feeder heifers 658 to 698 pounds sold for $224 to $243.

Cash hogs were steady with light opening negotiated sales at the major direct markets. Between the light trade Wednesday and the overall reduction in the slaughter pace this week, it looks like most buyers have the needed near-term numbers in hand. Pork export sales of 29,000 tons were 3% less than the previous week, but 3% more than the four-week average, primarily to Japan, Mexico, and Colombia.

Barrows and gilts at the National Daily Direct had no reported change from the previous day at midday, but had a base range of $72 to $79 and weighted average price of $76.31. The Iowa/Minnesota and Western Corn Belt each had no comparison but a weighted average price of $75.99. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets were steady at midday with prices for barrows and gilts at $60 in Dorchester, Wisconsin and Garnavillo, Iowa. Sows were steady with a range of $54 to $60. Boars were marked at $17.

Pork values were higher at midday – up $1.35 at $95.76. Bellies, hams, ribs, and butts were higher. Picnics and loins were lower.