Market News

Midday cash livestock markets

Direct cash cattle trade activity is starting to pick up as bids have surfaced across cattle country at $191 live in the South and $305 dressed in the North.  There are also some live bids in the North at $195.  Asking prices are at $193 to $195 live in the South and $307-plus dressed in the North.  There was some light trade reported in parts of the North at $303 to $305, mostly $305, $2 higher than the prior week’s weighted average basis in Nebraska.  Look for business to pick over the balance of the week.

Boxed beef is mixed, sharply higher and lower with very good demand and light demand for fairly light offerings.  Choice is $6.80 higher at $321.64 and Select is $1.84 lower at $283.71.  The Choice/Select spread is $37.93.

At the Huss Livestock Market in Nebraska, there was a nice offering of weaned spring calves with some bawling calves in the mix.  Steers under 700 pounds were steady to $5 higher.  Steers over 700 pounds were steady to $3 lower.  Heifers over 500 pounds were steady to $3 higher.  The USDA says demand was good from the buyers in the crowd and online.  Receipts were up on the week and the year.  Feeder supply included 58% steers and 72% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 646 pounds brought $302.50 to $321.50 and feeder steers 700 to 732 pounds brought $285.50 to $292.25.  Medium and Large 1 feeder heifers 600 to 638 pounds brought $281 to $293 and feeder heifers 653 to 681 pounds brought $269 to $274. 

Cash hog prices were not reported at midday with just a handful of negotiated purchases. Processors aren’t getting too aggressive to move needed numbers.  Heading into the end of the year, it wouldn’t be a big surprise to see some pretty inconsistent and lackluster days of business. The Export Sales report from the USDA showed a big drop off in business last week, with net sales down 50% from the previous week and 52% from the prior 4-week average.  Exports were also down.  The industry is monitoring the availability of market-ready hogs and looking to next week’s Quarterly Hogs and Pigs report from the USDA. The five-day rolling average for barrows and gilts at the National Daily Direct is $78.99; it’s $79.74 for the Iowa/Minnesota, and $79.51 at the Western Corn Belt.

Butcher hog prices at the Midwest cash markets are steady at $52 and $51. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $32 to $44.  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 – down $.38 at $95.97.  Bellies, hams, picnics, and ribs were all lower.  Butts and loins were higher.

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