Market News

Midday cash livestock markets

Cash cattle country has been quiet Friday after some light business that took place on Thursday. Asking prices are around $208-plus in the South and $330-plus in the North. No bids have been renewed so far, and it’s looking like the bulk of trade has been completed for the week. Some cleanup deals could take place Friday afternoon.

Boxed beef was lower at midday with Choice down $1.72 at $322.26 and Select down $.24 at $314.53. The Choice/Select spread was $7.73.

At the Clarinda Livestock Auction in Iowa on Thursday, feeder steer calves 500 to 600 pounds were selling $8 to $12 higher compared to the most recent sale. Heavier weights had a lower undertone to $6 lower. All weight classes of feeder heifers were fully steady to $6 higher. USDA says demand was very good for the offering. Feeder supply included 61% steers and 69% of the offering was over 600 pounds. Medium and Large 1 feeder steers 609 to 645 pounds brought $313.50 to $335. Medium and Large 1 feeder heifers 612 to 645 pounds sold for $280 to $306.

Cash hogs are higher with light opening negotiated numbers at the major direct markets. Most buyers at those major direct markets have the needed near-term numbers in hand after the more aggressive movement earlier in the week. The wholesale market is showing some signs of improved domestic demand, but that will have to be sustained. While export demand remains solid, that could be impacted by tariffs.

Barrows and gilts at the National Daily Direct had no trend established at midday, but had a base range of $81 to $88. The Eastern Corn Belt had no comparison, but a weighted average of $84.17. The Iowa/Minnesota and Western Corn Belt were not reported due to confidentiality.

Butcher hogs were steady to higher at the Midwest cash markets in Garnavillo, Iowa and Dorchester, Wisconsin. Barrows and gilts were up $4 at $64; sows were steady to higher with a range of $62 to $68; boars were marked at $22. At Red Oak, Iowa barrows and gilts were steady at $52; sows were steady to $1 higher at $62 to $65; boars were priced at $3 to $27.

Pork values were higher at midday – up $1.65 at $97.29. Bellies were sharply higher. Hams, picnics, and butts were higher. Ribs and loins were lower.