Market News

Midday cash livestock markets

Direct cash cattle trade is quiet following a solid day of business on Wednesday.  For the week, live deals in the South were at mostly $190, $3 to $4 higher than the previous week’s weighted averages.  Dressed deals in the North were at mostly $295, $5 higher than the prior week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday with light to moderate demand for light offerings. Choice is $.04 lower at $311.22 and Select is $1.60 higher at $275.90.  The Choice/Select spread is $35.32. 

At the Unionville Livestock Market in Missouri, calves sold with sharply higher undertones and loads of heavyweight yearlings were steady to firm.  The USDA says supply was moderate and demand was good to very good.  Receipts were up on the week and the year.  Feeder supply included 67% steers and 54% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 646 pounds brought $290 to $308 and feeder steers 831 to 844 pounds brought $268.50 to $271.  Medium and Large 1 feeder heifers 501 to 539 pounds brought $288 to $306 and feeder heifers 747 pounds brought $253.50. 

Cash hogs are sharply lower at midday with moderate negotiated purchases.  The cash hog market has been pretty sluggish all week.  Processors likely have procured needed numbers and don’t need to get aggressive to finish out the week.  The industry continues to look to demand for market support.  Global demand has held relatively strong. Export sales for the week were down slightly, but still slightly higher than the prior 4-week average.  But domestic demand continues to be inconsistent.  The availability of market-ready hogs is also being monitored. Barrows and gilts at the National Daily Direct are $3.92 lower with a base range of $80 to $88 and a weighted average of $83.44 and the Western Corn Belt is $4.06 lower with a weighted average of $83.41.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Pork values were higher at midday – up $.85 at $89.79.  Bellies, butts, and hams are all sharply higher.  Ribs were higher.  Loins and picnics were lower and sharply lower.