Market News

Midday cash livestock markets

It’s been a slow Friday for cash cattle country after Thursday’s light to moderate business. No bids have been renewed and asking prices left on showlists are around $202-plus in the South and $323-plus in the North. The bulk of trade has been completed for the week, but there could be some cleanup deals as the day progresses. This week’s live deals in Kansas and Texas have been marked at $201, steady to $1 higher from the previous week. Dressed sales in Nebraska and Iowa have been at mostly $322, $2 higher than the week prior. When summary reports are released on Monday, it’s more than likely we’ll see another round of record-highs again for the third week in a row.

Boxed beef was higher at midday with Choice up $.41 at $333.82 and Select up $2.07 at $321.45. The spread is $12.37.

At Mitchell Livestock Auction in South Dakota, feeder steers were unevenly steady overall and feeder heifers were steady on the day. USDA says there was good demand for a large offering. The best demand was seen on light weight cattle to background. Feeder supply included 53% steers and 83% of the offering was over 600 pounds. Medium and Large 1 feeder steers 804 to 844 pounds brought $271.50 to $287.25. Medium and Large 1 feeder heifers 754 to 799 pounds sold for $254 to $264.75.

Cash hogs are steady to sharply lower with very light opening negotiated numbers at the major direct markets. Most buyers should have their near-term needs covered after the more aggressive interest earlier in the week. There could be movement issues in the coming week due to bitterly cold conditions in some areas. Wholesale demand continues to be inconsistent.

Barrows and gilts at the National Daily Direct were down $2.36 with a base range of $77 to $81, for a weighted average price of $78.08. The Iowa/Minnesota, Western Corn Belt, and Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs are mostly steady at the Midwest cash markets with barrows and gilts priced at $58, slaughter sows ranging from $45 to $51, and boars marked at $18. At Illinois, slaughter sows were steady at $37 to $49, barrows and gilts were steady at $46 to $56, and boars were at $15 to $30.

Pork values were higher at midday – up $1.30 at $91.69. Loins, picnics, ribs, and bellies were higher. Butts and hams were lower.

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