Market News

Midday cash livestock markets

Cash cattle country is off to a very slow start Tuesday with bids and asking prices not established. Significant trade volume will likely be delayed until later in the week. Last week’s business was light and could be called scattered, at best.  Deals in the North were marked at $320 to $322 dressed, that’s $5 to $7 lower than the previous week’s weighted averages.  Live deals in the South were at $202 to $203, $3 to $4 lower than the prior week’s weighted average basis. 

Boxed beef was mixed at midday with Choice up $1.03 at $316.73 and Select down $2.29 at $303.94. The Choice/Select spread was $12.79.

Inclement weather has played a factor in sale barn activity already this week, and that will likely continue as several barns across the country have canceled sales this week. In Nebraska last week, the state’s feeder steers less than 500 pounds sold $20 lower, over 500 pounds were $2 to $6 lower. Feeder heifers less than 500 pounds brought $13 lower compared to the previous week, 500 to 600 pounds were steady, 600 to 700 pounds sold $15 lower, and all other weights over 700 pounds were unevenly steady. USDA says demand was moderate to good on the week. Nebraska feedlots on a cash basis sold live sales $5 lower at $203 and dressed sales sold $7 to $8 lower from $320 to $321. The state’s feeder supply included 49% steers and 73% of the offering was over 600 pounds. Medium and Large 1 feeder steers 752 to 798 pounds brought $266 to $296.25. Medium and Large 1 feeder heifers 600 to 649 pounds sold for $287 to $323.50.

Cash hogs are steady to higher with light opening negotiated numbers at the major direct markets. Buyers didn’t move a whole lot of ready numbers Monday and weather will have an impact on business in some areas for much of this week. Wholesale demand has shown some signs of improvement, but remains largely inconsistent, and there are concerns exports could be limited by tariffs. The five-day rolling average for barrows and gilts at the National Daily Direct is $88.58, it’s $89.57 at the Iowa/Minnesota, $89.61 at the Western Corn Belt, and $87.05 at the Eastern Corn Belt.

At Illinois, barrows and gilts are $3 higher at $51 to $61; slaughter sows are $4 higher at $57 to $69; boars are marked at $15 to $30.

Pork values were lower at midday – down $1.65 at $100.82. Picnics and ribs are higher. Bellies, hams, butts, and loins are lower.