Market News
Midday cash livestock markets
Direct cash cattle trade activity remains quiet. Bids have been elusive. Asking prices have resurfaced at $189 to $190 live in the South, but still haven’t been established in the North. Significant trade volume isn’t expected until sometime Thursday or Friday.
Boxed beef is mixed at midday with light to moderate demand for moderate offerings. Choice is $1.99 higher at $318.82 and Select was $.80 lower at $291.29. The Choice/Select spread is $27.53.
At the Interstate Regional Stockyards in Missouri, feeder steers under 550 pounds were $5 to $10 higher, and steers over 550 pounds were steady. Feeder heifers were steady. The USDA says demand was good for the moderate supply. The offering included a consignment of backgrounded, medium flesh program. Receipts were up on the week and the year. Feeder supply included 70% steers and 63% of the offering was over 600 pounds. Medium and Large 1 feeder steers 643 pounds, value added, brought $273.75 and feeder steers 836 pounds, value added, brought $246. Medium and Large 1 feeder heifers 505 to 532 pounds brought $253 to $260 and feeder heifers 676 to 690 pounds brought $230 to $231.
Cash hogs are mixed at midday with solid negotiated purchases. The cash hog market has been consistently inconsistent the last couple of weeks. Processors have been slow to ramp up their procurement efforts. Hog weights are up again this week to 285.4 pounds, more than half a pound higher than last week and nearly 2 pounds heavier than year-ago levels. With the current availability of market-ready hogs and these heavier weights, ample pork supplies are on the market, which makes the strong demand for U.S. pork in other countries even more critical to prices. Barrows and gilts at the National Daily Direct have no comparison but a base range of $73 to $80 and a weighted average of $78.12. Prices at the Regional Direct Markets were not reported due to confidentiality.
Butcher hog prices at the Midwest cash markets are steady at $60 in Dorchester, Wisconsin and Garnavillo, Iowa and $2 lower at $50 in Red Oak, Iowa. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $56 to $68. 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 $.62 at $95.02. Ribs, picnics, and hams were all higher. Butts, bellies, and loins were lower.
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