Market News

Midday cash livestock markets

Direct cash cattle markets are quiet after the light trade on Tuesday. That business was at $191 on the live basis in Kansas, steady with the previous week’s weighted average, and $191 live in Texas, $1 higher. The earlier-than-normal activity might be a sign some buyers are short bought and in need of supplies or that buyers in general want to get ahead of the slowdown for the weeks of Christmas and New Year. Asking prices have been refreshed at $192+ live in the South, with bids of $193 live in Nebraska and Colorado and $300 dressed in Nebraska.

At the Winter Livestock cattle sale in Colorado, compared to the previous week, feeder steers weighing less than 500 pounds were mostly $5 to $9 higher, while 500-to-600-pound steers were $4 to $10 lower, and steers weighing 600 pounds and heavier were mostly up $7 to $10. Feeder heifers weighing less than 550 pounds were mostly $2 to $10 lower and feeder heifers weighing more than 550 pounds were mostly $2 to $8 higher. The USDA says trade activity and demand were both moderate to good. 57% of the feeder offering were steers and 66% of all feeder cattle weighed less than 600 pounds. Receipts were up on the week and the year. Medium and Large 1 feeder steers weighing 550 to 650 pounds were reported at $280 to $335 and 700-to-800-pound steers sold at $248 to $276. Medium and Large 1 feeder heifers weighing 400 to 500 pounds brought $300 to $342.50 and 500-to-600-pound heifers ranged from $256 to $302.50.

Boxed beef at midday is mixed, with light movement. Choice is up $.21 at $311.94 and Select beef is down $.64 at $279.01. The Choice/Select spread is $32.93.

Cash hog business is steady to higher with light negotiated opening numbers at the major direct markets. It looks like some buyers still need to acquire supplies after Tuesday’s solid negotiated movement at higher prices. Domestic demand remains inconsistent, but exports have been solid, with the USDA’s next round of weekly sales numbers out Thursday morning. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area for the week ending December 7^th was 289.1 pounds, steady on the week and down 1.5 on the year.

National direct barrows and gilts opened $1.85 higher with a base price range of $76 to $84 for a weighted average of $82.43, while the Western Corn Belt is up $1.85 at $82.60. There was no reported comparison for either Iowa/Southern Minnesota or the Eastern Corn Belt. The Eastern Corn Belt did have a five-day rolling average of $79.73. The butcher hog markets in Garnavillo, Iowa and Dorchester, Wisconsin are steady at $52. Illinois direct sows are steady at $34 to $46 with moderate demand for heavy offerings. Barrows and gilts are steady at $50 to $60 on moderate demand and offerings. Boars range from $15 to $30.

Pork at midday is down $.65 at $92.49. Loins, hams, and bellies were sharply lower, canceling out good gains in butts, picnics, and ribs.