Market News

Midday cash livestock markets

Cash cattle country has a few bids on the table in parts of Nebraska following the last two days of light trade. Those bids are at $195 on a live basis and $305 dressed. Asking prices continue to be around $192-plus in the South, but have been pulled back in the North in light of higher bids.

The USDA says 2024 beef export sales of 11,000 tons were up solidly from the previous week’s marketing year low, with Japan and South Korea leading the way. 2025 sales of 5,400 tons were mainly to Japan.

The USDA says boxed beef cutout values were delayed at midday due to technical difficulties. On Wednesday, boxed beef closed lower with moderate to heavy movement. Choice was down $.50 at $311.23 and Select beef was $1.54 lower at $278.11 for a spread of $33.12.

At the Bloomfield Livestock Feeder Cattle Auction in Iowa on Wednesday, steers sold mostly steady to $11 higher compared to the most recent sale from two weeks ago. Heifers under 450 pounds sold sharply higher, with heavier weights $2 to $9 higher. USDA says demand was very good and included active internet bidding. The supply was heavy and included several load lots of reputation steers and heifers. Feeder supply included 56% steers and 69% of the offering was over 600 pounds. Medium and Large 1 feeder steers 750 to 792 pounds brought $265.50 to $277.50. Medium and Large 1 feeder heifers 704 to 748 pounds sold for $252 to $265.75.

Cash hog business is steady to sharply lower with light opening negotiated numbers at the major direct markets. It looks like most buyers have the needed near-term numbers in hand after the more aggressive movement earlier in the week. Domestic pork demand continues to be inconsistent.

2024 pork export sales of 22,500 tons were down 36% on the week, with Mexico and Japan topping the list. 2025 sales of 4,600 tons were primarily to South Korea.

Barrows and gilts at the National Daily Direct were down $3.35 at midday with a base range of $72 to $83.50, with a weighted average price of $79.08. The Western Corn Belt was down $3.44 with a weighted average price of $79.16. The Iowa/Minnesota and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs were mostly steady at $52 at the Midwest cash markets. Slaughter sows are steady with a range of $39 to $45. Boars were priced at $13.

Pork values were delayed at midday due to technical difficulties at USDA.