Market News

Midday cash livestock markets

Cash cattle country has been quiet on Tuesday with bids and asking prices not established for the week. Significant trade volume could be delayed until the second half of the week. Showlists are mixed, somewhat higher in Texas, higher in Nebraska/Colorado, but lower in Kansas.

Boxed beef was higher at midday with Choice up $2.10 at $300.18 and Select up $.19 at $284.72. The Choice/Select spread was $15.46.

At the Joplin Regional Stockyards in Missouri on Monday, feeder steers under 800 pounds sold steady to $8 higher compared to the most recent sale. Heavier weights were steady to $3 lower. Feeder heifers were mostly steady to $8 higher. USDA says supply was moderate with good demand. Feeder supply included 64% steers and 69% of the offering was over 600 pounds. Medium and Large 1 feeder steers 750 to 799 pounds brought $244.50 to $258 and feeder steers 850 to 899 pounds sold for $234 to $246.75. Medium and Large 1 feeder heifers 553 to 598 pounds brought $250 to $270 and feeder heifers 757 to 794 pounds sold for $235 to $243.50.

Cash hogs are steady to higher with solid opening negotiated numbers at the major direct markets. Buyers started off the week with relatively aggressive interest and it looks like most need near-term supplies to keep chain speed at an acceptable level. Global demand is solid and the recent wholesale trend is a positive, but sustained domestic demand is key for continued support.

Barrows and gilts at the National Daily Direct were up $1.57 with a base range of $72 to $79 and weighted average of $77.99. The Iowa/Minnesota had no comparison but a weighted average of $78.25. The Western Corn Belt had no comparison but a weighted average of $77.99. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs were steady at the Midwest cash markets with barrows and gilts priced at $55; slaughter sows ranging from $51 to $57; and boars marked at $16. At Illinois, barrows and gilts were steady at $45 to $55; slaughter sows were $1 higher at $56 to $68; boars had a range of $15 to $30.

Pork values were higher at midday – up $1.51 at $97.35. Bellies, hams, picnics, and butts were higher. Ribs and loins were lower.