Market News

Midday cash livestock markets

Cash cattle country is off to another slow start Thursday with just a few asking priced noted at $187 in the South, but they are still not established in the North. Bids remain very hard to find. Significant trade volume could be delayed until Friday. The USDA says beef export sales of 22,500 tons were a big increase from the previous week and 68% larger than the four-week average, with South Korea and China leading the pack.

Boxed beef was mixed at midday with Choice down $.32 at $299.49 and Select up $.55 at $284.48. The Choice/Select spread was $15.01.

At the Hub City Livestock Auction in South Dakota on Wednesday, feeder steers over 900 pounds were mostly steady with some instances up to $5 lower. Feeder heifers over 800 pounds were $4 to $6 higher compared to the most recent sale. USDA says there was good to very good demand for another large offering of yearlings. Most cattle sold in loads and strings with a few packages, and most came off grass. Feeder supply included 49% steers and all of the offering was over 600 pounds. Medium and Large 1 feeder steers 926 to 948 pounds brought $238 to $253. Medium and Large 1 feeder heifers 900 to 942 pounds sold for $227 to $237.

Cash hogs are steady to higher with very light opening negotiated numbers at the major direct markets. It looks like most buyers have the needed near-term numbers in hand after the more aggressive demand earlier in the week, so the firm business at the major direct markets is probably just clean-up activity. Pork export sales of 43,400 tons were up 55% on the week and 61% from the four-week average, mainly to Mexico and China.

Barrows and gilts at the National Daily Direct were up $1.38 with a base range of $73 to $76.50 and a weighted average of $74.73. The Iowa/Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs are steady to higher at the Midwest cash markets. In Dorchester, Wisconsin and Garnavillo, Iowa, barrows and gilts are steady at $55; sows are steady at $51 to $57; boars are priced at $16. At Red Oak, Iowa, barrows and gilts are steady at $51; sows are higher at $66 to $69; boars are priced from $3 to $28. At Illinois, barrows and gilts are steady at $45 to $55; sows are steady at $56 to $68; boars are priced at $15 to $30.

Pork values were higher at midday – up $.17 at $95.19. Hams, ribs, and picnics were higher. Bellies, butts, and loins were lower.

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