Market News

Midday cash livestock markets

Direct cattle business is light. Trade has developed at $195 to $196 on the live basis in Texas and Kansas, $2 to $3 higher than last week’s weighted average. Asking prices are $196+ live, with bids at $195 and $198 live and $310 dressed.

Boxed beef at midday was lower with light movement. Choice was down $1.67 at $322.55 and Select beef was $.23 lower at $294.29 for a spread of $28.26.

At the Tri-State Livestock Auction in Nebraska, there was no comparison to the previous test, with receipts down from both that test and last year. The USDA says demand was moderate to good. 83% of the offering were feeder cattle, with 60% of those steers, and 71% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 600 to 700 pounds were reported at $289 to $307 and 700-to-800-pound steers brought $272.50 to $288.50. Medium and Large 1 feeder heifers weighing 500 to 600 pounds ranged from $282 to $325 and 600-to-700-pound heifers sold at $260 to $290.

Cash hogs are steady to higher with very light opening negotiated numbers at the major direct markets. It looks like many buyers at those direct markets have the needed near near-term numbers in hand and these higher moves at the Midwest butcher markets might be temporary. Weather issues could impact movement early next week. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area for the week ending December 28th was 292.3 pounds, up 2.6 on the week, but down 0.2 on the year. The USDA’s weekly export sales numbers are delayed until Friday.

The major direct markets were not reported due to confidentiality. National direct barrows and gilts and the Western Corn Belt both had five-day rolling averages of $79.59. Butcher hogs are sharply higher, with Dorchester, Wisconsin up $3 at $55 and Garnavillo, Iowa $8 higher at $60. Illinois Direct sows are steady at $32 to $44 with moderate to good demand for light offerings. Barrows and gilts are steady at $46 to $56 on moderate demand and offerings. Boars range from $15 to $30.

Pork at midday was up $2.17 at $92.47. Loins, butts, picnics, ribs, and bellies were firm to sharply higher, while hams were lower.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!