Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a typically quiet start to the week.  Buyers and sellers are busy preparing for the week’s business, and bids and asking prices have yet to surface.  Significant trade volume isn’t expected until midweek or later.  Live deals in the South last week had a range of $192 to $197, mostly $196 to $197, $4 to $5 higher than the previous week’s weighted averages.  Northern dressed sales ranged from $309 to $320, mostly $312 to $315, $5 to $8 higher than the prior week’s weighted averages. 

Boxed beef is up at midday on solid demand for moderate offerings.  Choice is $2.00 higher at $327.24, and Select is $4.40 higher at $301.12.  The Choice/Select spread is $26.12.

In Missouri last week, feeder steers and heifers sold firm with higher undertones.  There was just a fraction of barns back in business, but those that were saw moderate to heavy offerings.  There were a few stick-out sales, including a draft of 1,047 head of 842-pound steers at Joplin that sold for $264.85.  The Green City Livestock Market sold a load of 505-pound steers for $368 and a load of 778-pound heifers for $268.50.  Receipts were down on the year.  Feeder supply included 64 percent steers, and 69 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 698 pounds brought $272.50 to $309.50 and feeder steers 800 to 849 pounds brought $250 to $268.50.  Medium and Large 1 feeder heifers 650 to 699 pounds brought $250 to $288.50 and feeder heifers 700 to 746 pounds brought $241.50 to $275. 

Cash hogs are lower at midday, with just a handful of negotiated purchases.  Demand for U.S. pork in the global market has been strong, and it continues to provide some price support.  But, domestic demand has struggled.  The market has been consistently inconsistent and hasn’t had any long-term price support.  Ample supplies of market-ready hogs keep packers in the driver’s seats. Barrows and gilts at the National Daily Direct were $1.37 lower with a base range of $68 to $79 and a weighted average of $78.32 and the Western Corn Belt is $1.56 lower with a weighted average of $78.32.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets were steady at $55. 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 $46 to $56.  Boars ranged from $20 to $30 and $15 to $25. 

Pork values were lower at midday – down $1.57 at $87.97.  Loins, butts, and hams were all sharply lower.  Ribs and picnics were also down.  Bellies were sharply higher.

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