Market News

Midday cash livestock markets

Direct cash cattle trade is pretty quiet after back-to-back days of light business.  Some scattered bids have surfaced at $202 to $204 live and $321 dressed.  For the week, deals in the South have ranged from $202 to $203, $3 to $4 lower than the previous week’s weighted averages.  A handful of dressed deals in the North have been reported in parts of Nebraska at $320, but that’s not near enough business to establish an accurate price trend for the week.

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $1.12 lower at $318.14 and Select is $1.02 higher at $310.16.  The Choice/Select spread is $7.98. 

At the Huss Livestock Market in Nebraska, steers over 500 pounds were steady to $7 lower and heifers 550 to 750 pounds were steady to $4 lower, and heifers 750 to 800 pounds were $10 higher.  The USDA says demand was moderate to good from the buyers in-house.  The offering was made up of long-time weaned steers and heifers, but was less than expected due to weather conditions.  Receipts were down on the week and the year.  Feeder supply included 62% steers and 80% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 696 pounds brought $305 to $318.50 and feeder steers 754 to 798 pounds brought $280.50 to $294.50.  Medium and Large 1 feeder heifers 600 to 637 pounds brought $291.50 to $299.50 and feeder heifers 752 to 755 pounds brought $273.50 to $280. 

Cash hogs are higher at midday with very light negotiated purchases.  Slaughter pace has been up, and processors are having to be more aggressive in their procurement efforts to move needed numbers.  Demand for U.S. pork on the global market has been relatively strong, which has been helping provide price support.  The industry continues to monitor the availability of market-ready hogs and hog weights, which did decline on the week, to gauge pork supplies. Barrows and gilts at the National Daily Direct are $1.85 higher with a base range of $82 to $91 and a weighted average of $90.42.  Prices at the Regional Direct Markets were not reported at midday due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $62. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $49 to $61.  Barrows and gilts were steady with moderate demand for moderate offerings at $48 to $58.  Boars ranged from $20 to $30 and $15 to $25. 

Pork values were higher at midday – up $2.04 at $100.67.  Hams, bellies, ribs, loins, and butts were all higher.  Picnics were lower.