Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet following the light to moderate business that took place on Thursday.  For the week, live deals have been marked at mostly $185, $2 higher than the previous week’s weighted averages, and dressed deals in the North were at mostly $294, up $4 from the prior week’s weighted average basis in Nebraska.  Asking prices for what’s left on showlists are around $186-plus live in the South and $295-plus dressed in the North. 

Boxed beef is mixed at midday with light demand for moderate offerings.  Choice is $.50 higher at $296.87 and Select is $.11 lower at $282.26.  The Choice/Select spread is $14.61. 

At the Mitchell Livestock Auction in South Dakota, steers were unevenly steady.  Heifers up to 800 pounds were also unevenly steady and heifers over 800 pounds sold on lower market.  The USDA says demand was good and vaccinated calves were bringing top dollar.  Receipts were down on the week and the year.  Feeder supply included 75% heifers and 57% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 506 to 513 pounds brought $310 to $318.  Medium and Large 1 feeder heifers 721 pounds brought $250.50 and feeder heifers 912 to 929 pounds brought $214 to $219.75. 

Cash hogs are lower at midday with moderate negotiated purchases.  Processors are moving needed numbers without having to get aggressive in their procurement efforts and bid up.  Thursday’s Hogs and Pigs report from the USDA shows slightly more supplies, which could allow processors to be less aggressive in their procurement efforts.  Demand for U.S. pork on the global market has been strong and that’s helping to provide significant price support.  Along with the availability of market-ready hogs, the industry continues to monitor hog weights. Barrows and gilts at the National Daily Direct are $1.16 lower with a base range of $76 to $77 and a weighted average of $76.60.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sows were steady with moderate demand for moderate offerings at $55 to $67.  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 $1.19 at $95.83.  Butts, bellies, loins, and picnics were all higher.  Ribs and hams were lower.