Market News

Midday cash livestock markets

Direct cash cattle trade is quiet again to start the day, typical for a Tuesday.  Showlists for the week are somewhat higher in Texas, and higher in Kansas, and Nebraska/Colorado. Asking prices have surfaced at $192 to $194 live in the South, while the North remains quiet.  Bids haven’t been floated.  Significant trade volume isn’t expected until the latter half of the week.

Boxed beef is mixed at midday with light to moderate demand for moderate offerings. Choice is $1.03 higher at $314.04 and Select is $.40 lower at $276.60.  The Choice/Select spread is $37.44.

At the Callaway Livestock Center in Missouri, lightweight steers calves under 450 pounds traded with a sharply higher undertone on a light test.  Steers 450 to 550 pounds and heifers 400 to 600 pounds were $10 to $20 higher.  Steers 550 to 600 pounds were steady.  Steers 600 to 650 pounds were $10 to $15 higher, and several part loads of steers 700 to 770 pounds were $3 to $10 higher.  Feeder heifers 600 to 660 pounds were mostly $5 to $10 higher.  The USDA says demand was very good on the steer and heifer calves weighing 400 to 650 pounds, the supply was moderate.  Quality overall was very good on the calves, the bulk of which were long-weaned with two rounds of shots.  All sold on an active market. Receipts were down on the week and the year.  Feeder supply included 47% steers and 40% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 643 pounds brought $293 to $313 and feeder steers 708 to 709 pounds brought $280 to $287.25.  Medium and Large 1 feeder heifers 500 to 549 pounds brought $291 to $308 and feeder heifers 551 to 594 pounds brought $281.25 to $298.

Cash hogs had no comparison at midday, but solid negotiated purchases.  Processors appear to be ramping up their procurement efforts and bid up to move needed numbers.  Demand for U.S. pork on the global market remains strong, which has been helping provide support to the market. But domestic demand remains inconsistent.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct have a base range of $76 to $89 and a weighted average of $86.57; the Iowa/Minnesota had a weighted average of $86.18; the Western Corn Belt has a weighted average of $86.18.  Prices at the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $53. At Illinois, slaughter sow prices are $4 lower with moderate demand for moderate offerings at $39 to $51.  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 lower at midday – down $1.21 at $91.45.  Bellies and hams were sharply lower.  Ribs were lower.  Butts, picnics, and loins were all higher.