Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a slow start following Thursday’s light to moderate business.  Bids have resurfaced at $200 live in the South.  Asking prices are holding firm at $202-plus live in the South and $322-plus dressed in the North.  Look for more business to develop over the balance of the day.  On Thursday, live business in the South was at mostly $200, $4 higher than the previous week’s weighted averages.  Dressed business was at mostly $320, $5 higher than the prior week’s weighted average basis in Nebraska. 

Boxed beef is sharply higher at midday on solid demand for moderate offerings.  Choice is $2.34 higher at $333.12 and Select is $5.22 higher at $313.57.  The Choice/Select spread is $19.55.

At the Ogallala Livestock Auction in Nebraska, in the first sale of 2025, demand was moderate to good on a nice offering.  The market was active both in house and online.  Receipts were up from the most recent sale and on the year.  Feeder supply included 56% steers and 65% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 601 to 641 pounds brought $327.50 to $348 and feeder steers 701 to 745 pounds brought $289 to $310.  Medium and Large 1 feeder heifers 656 to 670 pounds brought $279.50 to $295 and feeder heifers 710 to 749 pounds brought $269 to $283. 

Cash hogs are lower at midday, with just a handful of negotiated purchases. Processors have been moving needed numbers without getting too aggressive in their procurement efforts.  Export sales for last week were solid as demand for U.S. pork on the global market remains strong.  There are concerns about the inconsistency in domestic demand.  The industry continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct are $1.37 lower with a base range of $70 to $81 and a weighted average of $77.98.  Prices at the Regional Direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $55.

Pork values were higher at midday – up $1.54 at $92.02.  Bellies were sharply higher.  Hams, butts, and picnics were up.  Loins and ribs were lower.