Market News

Midday cash livestock markets

Direct cattle business is light. Sales are reported at $206 on the live basis in Kansas and Texas, $2 lower than last week’s weighted average for the region. That follows up on Wednesday’s activity at $205 live in Kansas, $3 lower, and $328 dressed in Iowa and Nebraska, down $1. Asking prices are $208 live and $329+ dressed, with bids of $208 live in Nebraska. The USDA says beef export sales of 24,900 tons were up on the week, with South Korea, Japan, and China topping the list.

Boxed beef at midday is mixed with light movement. Choice beef is down $1.89 at $323.45 and Select beef is up $.31 at $314.64 for a spread of $8.81.

At the Winter Livestock Auction in Kansas, compared to the previous week, feeder steers weighing 600 to 800 pounds were steady to $5 lower and steers weighing more than 800 pounds were steady to $5 higher. Feeder heifers weighing 500 to 900 pounds were steady to $5 higher. Steers and heifers weighing less than 500 pounds were down $10. The USDA says there was good demand for a moderate supply with receipts up on the week, down on the year. 89% of the run were feeder cattle, 68% of those were steers, and 66% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds ranged from $270 to $293.50 and 800-to-900-pound steers sold at $266 to $280.50. Medium and Large 1 feeder heifers weighing 600 to 700 pounds were reported at $263.75 to $292.50 and 700-to-800-pound heifers brought $251 to $260.

Cash hogs are steady with extremely light negotiated movement at the major direct markets. It looks like most buyers have the needed near-term numbers in hand after the more aggressive movement earlier in the week. The USDA says pork export sales of 50,700 tons were above the prior week, with Mexico, South Korea, and Japan leading the way.

The major direct markets were not reported due to confidentiality. National direct barrows and gilts have a five-day rolling average of $85.21 and the Western Corn Belt is averaging $85.42. Butcher hogs in Dorchester, Wisconsin and Garnavillo, Iowa are steady at $60.

Pork at midday is up $1.25 at $95.08. Loins, butts, hams, and bellies were higher, picnics and ribs were lower.