Market News

Midday cash livestock markets

Direct cash cattle trade activity is still quiet. Bids have surfaced at $186 live.  Asking prices are around $190 to $192 live in the South, while the North has remained quiet.  While business might begin to develop today, significant trade volume could hold out until sometime Friday. 

Boxed beef is lower at midday with light demand for heavy offerings.  Choice is $2.89 lower at $312.70 and Select is $.26 lower at $282.94.  The Choice/Select spread is $29.76. 

At the Huss Livestock Market in Nebraska, there was a nice run of bawling spring calves on offer.  Steer calves 400 to 600 pounds were steady to $5 higher and steer calves 600 to 750 pounds were steady to $8 higher.  Heifer calves 400 to 600 pounds were steady and heifer calves over 600 pounds were steady to $5 lower.  The USDA says demand was moderate to good from the buyers in the crowd and online.  Receipts were down on the week and the year.  Feeder supply included 55% steers and 27% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 501 to 539 pounds brought $299.50 to $322 and feeder steers 601 to 648 pounds brought $276 to $292.  Medium and Large 1 feeder heifers 502 to 547 pounds brought $270 to $287 and feeder steers 600 to 643 pounds, unweaned, brought $250 to $263. 

Cash hogs are higher at midday with very few negotiated purchases.  Processors were able to move needed numbers Wednesday without having to get too aggressive in their procurement efforts.  Demand, for the most part, for U.S. pork on the global market has been strong, but this week’s Export Sales report was less than stellar as pork sales last week were a marketing-year low.  Domestic demand has been inconsistent and that also adds uncertainty to prices.  The industry continues to monitor the availability of market-ready hogs and hog weights.  Barrows and gilts at the National Daily Direct are $.96 higher with a base range of $79.50 to $87 and a weighted average of $85.26.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady in Dorchester, Wisconsin and Garnavillo, Iowa were steady at $63 and Red Oak, Iowa were lower at $53.  At Illinois, slaughter sow prices were steady with moderate demand for light offerings at $51 to $61.  Barrows and gilts were $1 higher with moderate demand for moderate offerings at $46 to $56.  Boars ranged from $20 to $30. 

Pork values were lower at midday – down $1.29 at $100.86.  Bellies were sharply lower.  Ribs and hams were also lower.  Picnics, butts, and loins were all higher to sharply higher.