Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start again.  Bids have yet to be established.  Asking prices have surfaced at $206-plus, but have not been established in the North.  Significant trade volume will likely be delayed until the latter half of the week. 

Boxed beef is lower at midday with light demand for moderate offerings.  Choice is $.88 lower at $322.62 and Select is $1.62 lower at $312.30.  The Choice/Select spread is $10.32. 

At the Joplin Regional Stockyards in Missouri, feeder steers ranged from $8 lower to $9 higher.  Feeder heifers sold from $8 lower to $6 higher.  The USDA says the market was uneven, with desirable cattle met with high demand.  The overall supply was heavy with moderate demand.  Receipts were down on the week and the year.  Feeder supply included 63% steers and 65% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 605 to 643 pounds brought $300 to $318 and feeder steers 856 to 884 pounds brought $252.50 to $259.50.  Medium and Large 1 feeder heifers 551 to 599 pounds brought $277 to $298 and feeder heifers 761 to 781 pounds brought $243.50 to $245. 

Cash hogs have no comparison at midday with moderate negotiated purchases.  The industry continues to monitor the availability of market-ready hogs and hog weights.  Demand for U.S. pork on the global market continues to be strong, helping provide some price support.  But there are long-term domestic demand concerns that are lingering, adding some uncertainty to the market. Barrows and gilts at the National Daily Direct have a base range of $81 to $88.75 and a weighted average of $86.53; the Iowa/Minnesota has a weighted average of $87.49; the Western Corn Belt had a weighted average of $87.49.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

At Illinois, slaughter sow prices were $2 higher with moderate demand for moderate offerings at $51 to $63.  Barrows and gilts are $2 higher with moderate demand for moderate offerings at $50 to $60.  Boars ranged from $20 to $30 and $15 to $25. 

Pork values were lower at midday – down $.69 at $98.93.  Bellies were sharply lower.  Loins and picnics were lower.  Butts, hams, and ribs were higher.