Market News
Midday cash livestock markets
All is quiet in cash cattle country following a light trade that took place in most areas on Thursday. Southern live deals were marked at $186 to $187, steady to a dollar higher on the week. Northern dressed business was $296, steady with the previous week. Asking prices for cattle left on showlists are around $188 in the South and $297-plus in the North.
Boxed beef was higher at midday with Choice up $1.10 at $311.05 and Select up $.98 at $291.71. The Choice/Select spread was $19.34.
At the Hub City Livestock Auction in South Dakota, feeder steers over 850 pounds sold steady to $3 higher. Feeder heifers over 800 pounds were mostly steady. USDA the sale featured both yearlings and calves with many loads and strings. There was very good demand for cattle off grass. Receipts were up on the week and near year-ago levels. Feeder supply included 63% steers and 83% of the offering was over 600 pounds. Medium and Large 1 feeder steers 954 to 992 pounds brought $235.50 to $249.25. Medium and Large 1 feeder heifers 812 to 837 pounds sold for $234 to $247.50.
Cash hogs are steady with very light opening negotiated numbers at the major direct markets. It’s been a pretty quiet week overall for cash business with mostly lower prices and limited negotiated movement as buyers try to improve their margins. The ongoing uncertainties about sustained domestic demand have also played a role in limiting the week’s business.
Barrows and gilts at the National Daily Direct had no change in negotiated sales, but have a five-day rolling average of $75.52. The Western Corn Belt has a five-day rolling average of $75.65. The Iowa/Minnesota and Eastern Corn Belt have not been reported due to confidentiality.
Butcher hogs are mostly steady at the Midwest cash markets with barrows and gilts priced at $60; slaughter sows at $60 to $66; and boars marked at $19. At the Illinois markets, slaughter sows are steady at $56 to $68 and boars have a range of $15 to $30.
Pork values were higher at midday – up $.50 at $95.37. Bellies, hams, ribs, and butts were higher. Picnics and loins were lower.
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