Market News

Midday cash livestock markets

Direct cash cattle trade activity hasn’t been significant this week.  A few bids have been renewed at $187 live and $293 dressed.  Asking prices are around $187 to $188 live in the South and $292-plus dressed in the North.  More business is certain to take place before the end of the day.  There was some light trade that took place on Thursday at $186 live in the South, $1 higher than the previous week’s business, and at $290 dressed in the North, fully steady with the prior week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice was $1.44 higher at $308.23 and Select was $.49 lower at $272.43.  The Choice/Select spread was $35.80. 

At the Mitchell Livestock Auction in South Dakota, light feeder steers up to 650 pounds sold with a higher undertone that was actually several dollars higher.  Steers over 650 pounds sold on higher undertone.  Heifers up to 900 pounds were also sold with a higher undertone, and heifers over 900 pounds were $3 to $6 higher.  The USDA says there were many large load lots of heavier feeders and demand was good.  Receipts were down slightly on the week and down on the year.  Feeder supply included 49% steers and 68% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 553 to 596 pounds brought $301 to $318 and feeder steers 881 pounds brought $238.  Medium and Large 1 feeder heifers 879 to 893 pounds brought $227.50 to $233.75 and feeder heifers 954 to 969 pounds brought $218.75 to $220. 

Cash hogs had no comparison at midday with moderate negotiated purchases. The cash hog market has been pretty sluggish this week as processors haven’t been in a situation where they’ve had to work to move needed numbers.  Demand for U.S. pork on the global market has been pretty strong, which does help support the market.  But domestic demand remains inconsistent and that’s been problematic.  The industry also continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct had no comparison but a base range of $81 to $86 and a weighted average of $83.30.  Prices at the Regional Direct Markets were not reported due to confidentiality  

Butcher hog prices at the Midwest cash markets were sharply lower, down $5 at $55. At Illinois, slaughter sow prices were $1 lower with moderate demand for moderate offerings at $45 to $57.  Barrows and gilts were steady with moderate demand for moderate offerings at $48 to $58.  Boars ranged from $20 to $30 and $15 to $25. 

Pork values were higher at midday – up $.92 at $93.99.  Hams, picnics, bellies, and butts were all higher.  Loins and ribs were lower and sharply lower.