Market News

Midday cash livestock markets

Direct cash cattle trade activity remains slow to get underway this week.  However, packer inquiry is expected to pick up as the day progresses.  Bids have surfaced at $190 live and $305 dressed, both in the North.  Asking prices are at $192 to $193 live in the South, and firm at $310 in the North.  One side is going to have to give in order for business to get underway.

Boxed beef is higher at midday with good demand for heavy offerings.  Choice is $3.84 higher at $319.82 and Select is $.98 higher at $287.73.  The Choice/Select spread is $32.09.

In Kansas last week, steers under 800 pounds were steady to $2 higher and steers over 800 pounds were steady to $3 lower.  Heifers were mostly $2 to $6 higher.  The USDA says demand was good.  The hay market has been sluggish as supplies are heavy with several cattle still grazing on wheat and rye.  Receipts were down on the week, but up on the year.  Feeder supply included 60% steers and 65% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 646 pounds brought $287 to $320 and feeder steers 805 to 849 pounds brought $239 to $265.  Medium and Large 1 feeder heifers 602 to 626 pounds brought $266 to $280 and feeder heifers 653 to 683 pounds brought $241 to $269. 

Cash hogs have no comparison but solid negotiated business to start the day. Packers appear to be more aggressive in their procurement efforts following the midweek holiday and ahead of another holiday-shortened week.  Demand for U.S. pork on the global market has been strong, which has been helping provide price support.  The industry continues to monitor supplies of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct had a base range of $71 to $80 and a weighted average of $79.10; the Iowa/Minnesota and the Western Corn Belt had no comparisons but weighted averages of $79.36 and $79.31.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

At Illinois, slaughter sow prices were steady with moderate demand for light 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 higher at midday – up $1.31 at $95.93.  Ribs, hams, loins, and butts are all higher.  Picnics and bellies are lower.

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