Market News
Midday cash livestock markets
Direct cash cattle trade is typically quiet. Buyers and sellers are preparing for the week ahead. Bids and asking prices have yet to be established. Significant trade volume could likely hold out until very late in the week, especially with Friday’s On Feed numbers from the USDA. Deals last had a full range of $296 to $304, mostly $296, fully steady with the prior week’s weighted average. Southern live deals ranged from $185 to $189.50, mostly $188, $1 higher than the previous week’s weighted averages.
Boxed beef is higher at midday on solid demand for moderate offerings. Choice is $1.42 higher at $322.07 and Select is $1.67 higher at $295.87. The Choice/Select spread is $26.20.
Last week in Missouri, steers and heifers were mostly steady to $5 lower, but there were some instances of up to $5 higher for the long-weaned, vaccinated feeders. Demand was good on a moderate supply. Receipts were down on the week and the year. Feeder supply included 57 percent steers and 57% of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 648 pounds brought $245 to $300 and feeder steers 801 to 848 pounds brought $236.50 to $253.75. Medium and Large 1 feeder heifers 551 to 598 pounds brought $230 to $285.50 and feeder heifers 701 to 749 pounds brought $227 to $265.
Cash hogs were sharply higher at midday with just a handful of negotiated purchases. Processors have started the week a little more aggressive in their procurement efforts and have bid up to move numbers. Demand on the global market continues to be a bright spot, adding additional price support. However, there are lingering concerns about the inconsistency in domestic demand. Barrows and gilts at the National Daily Direct were $2.45 higher with a base range of $70 to $77 and a weighted average of $74.57. Prices at the Regional Direct Markets were not reported due to confidentiality.
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 $1.75 at $98.34. Loins, ribs, and butts were sharply higher. Picnics and hams were higher. Bellies were sharply lower.
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