Market News

Midday cash livestock markets

Cash cattle country has a light trade developing in all three major feeding areas. Northern dressed business in Nebraska is reported at $322, $2 higher than last week. A very light Southern trade has been noted at fully steady  with Wednesday’s deals at mostly $201. Asking prices remain around $202-plus in the South and $323-plus in the North.

Boxed beef was mixed at midday with light to moderate movement. Choice was down $.95 at $333.19 and Select up $1.05 at $319.09. The Choice/Select spread was $14.10.

At the Hub City Livestock Auction in South Dakota, feeder steers 500 to 599 pounds were steady to $5 higher with heavier weights ranging from $3 to $9 higher. Feeder heifers were steady to some instances of $20 higher. USDA says the sale featured a very large offering with many packages, loads, and a few multiple loads. It was a very active market as buyers and farmer feeders competed to get cattle bought. Feeder supply included 63% steers, 37% heifers. Seventy percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 647 pounds brought $327 to $350. Medium and Large 1 feeder heifers 559 to 599 pounds sold for $309 to $332.

Cash hogs are steady to higher with light opening negotiated numbers at the major direct markets. It looks like most buyers have the near-term numbers in hand after the solid negotiated movement Wednesday, but at least a few of the buyers at those major direct markets were still in need of supplies. Wholesale pork has been on a firmer trend recently, but that’s come with wide swings for some of the individual primal cuts, and, in general, the market would like to see more signals of sustained demand, especially with beef prices high relative to pork.

Barrows and gilts at the National Daily Direct were up $.72 with a base range of $71 to $81 and a weighted average price of $80.44. The Western Corn Belt was up $.85 with a weighted average of $80.80. The Iowa/Minnesota had no comparison, but a weighted average of $80.80. The Eastern Corn Belt was not reported due to confidentiality.

At Illinois, slaughter sows were steady with moderate demand for moderate offerings at $37 to $49; barrows and gilts were steady with moderate demand for moderate offerings at $46 to $56; boars were priced at $15 to $30.

Pork values were higher at midday – up $.03 at $90.86. Loins, butts, and ribs were higher. Bellies, hams, and picnics were lower.