Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to another slow start.  Bids have yet to surface.  Asking prices have been floated early in Kansas at $190 to $192 live, but still haven’t been established in other areas.  Significant trade volume will likely be delayed until sometime Thursday or Friday. 

Boxed beef is lower at midday with light demand for moderate offerings.  Choice is $.37 lower at $316.85 and Select is $1.49 lower at $283.75.  The Choice/Select spread is $33.10. 

At the Ozarks Regional Stockyards in Missouri, feeder steers and heifers were uneven, from $4 lower to $4 higher with most weights not well tested.  The USDA says demand was good on a light supply, which was largely impacted by weather.  Receipts were down on the week and the year.  Feeder supply included 53% steers and 52% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 692 to 698 pounds brought $238 and feeder steers 794 pounds brought $249.  Medium and Large 1 feeder heifer 540 to 545 pounds brought $247.50 to $248 and feeder heifers 562 to 598 pounds brought $240 to $246. 

Cash hogs are higher at midday with moderate negotiated purchases.  Processors ramped up their procurement efforts and bid up to move needed numbers, that momentum has carried over into today.  The industry continues to monitor the availability of market ready hogs and hog weights, which fell back some this week to 285.8 pounds, down 0.2 pounds from last week and down nearly a pound from year ago levels. Demand for U.S. pork on the global market continues to be strong

Barrows and gilts at the National Daily Direct are $1.91 higher with a base range of $78 to $87 and a weighted average of $84.30 and the Western Corn Belt is $1.79 higher with a weighted average of $84.70.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $63.  At Illinois, slaughter sow prices were $5 lower with moderate demand for light offerings at $51 to $61.  Barrows and gilts are $1 higher with moderate demand for moderate offerings at $46 to $56.  Boars ranged from $20 to $30 and $15 to $25. 

Pork values were higher at midday – up $1.75 at $103.18.  Bellies are sharply higher.  Ribs and butts are higher.  Hams, picnics, and loins are all lower.