Market News

Midday cash livestock markets

Direct cash cattle trade is off to another quiet start.  Asking prices are around $203-plus live in the South, but still haven’t been established in the North.  Significant trade volume still needs to take place before the end of the week. Business has been light and scattered.  On Tuesday, live deals were in mostly Kansas at $201, that was fully steady with the prior week’s business.  On Wednesday, live deals took place in Texas, mostly at $201 to $202, steady to $1 higher than the previous week’s weighted averages. 

Boxed beef is weak at midday on moderate demand for moderate offerings.  Choice is $.50 lower at $331.52 and Select is $.06 lower at $317.93.  The Choice/Select spread is $13.59.

At the Huss Livestock Market in Nebraska, steers under 800 pounds were uneven, while steers 800 to 900 pounds were $3 higher.  Heifers under 700 pounds sold unevenly, while heifers over 700 pounds were $3 higher.  The USDA says demand was good from the buyers in the crowd.  Receipts were down on the week and the year.  Feeder supply include 64% steers and 74% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 697 pounds brought $299.50 to $317.50 and feeder steers 709 to 735 pounds brought $292 to $307.75.  Medium and Large 1 feeder heifers 600 to 645 pounds brought $295 to $305.75 and feeder heifers 700 to 734 pounds brought $270 to $277. 

Cash hogs were not reported at midday, with a handful of negotiated purchases. Processors have pulled back on their procurement efforts, at least so far, after a couple of solid days of business at higher prices.  The strong demand for U.S. pork on the global market continues to be a bright spot for the industry. Export Sales were delayed due to the holiday.  Domestic demand has been inconsistent at best and continues to create uncertainty in the market.  The industry is also monitoring talk about potential tariffs, which could impact business in the coming weeks.

The five-day rolling average for barrows and gilts at the National Daily Direct is $80.20; it’s $81.69 for both the Iowa/Minnesota and the Western Corn Belt. 

Butcher hog prices at the Midwest cash markets are steady at $55. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $40 to $51.  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 sharply higher at midday – up $2.93 at $93.10.  All of the primals were higher, with butts, loins, and bellies leading the way.

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