Market News

Midday cash livestock markets

Direct cattle markets are quiet. Aside from some very light trade in Kansas Tuesday at mostly $195 on the live basis, down $2 from last week’s weighted average, business has been at a standstill. The big question is whether or not that activity in Kansas is an aberration or a sign of another round of lower direct trade this week. Asking prices are $198+ live, nothing yet for the dressed basis, and bids continue to be scarce. This week’s show list looks mixed, larger in Kansas, smaller in Colorado, Nebraska, and Texas.

At the North Platte Stockyards feeder cattle sale in Nebraska, there was no comparison to last week because of area weather. The USDA says demand was good to moderate with a nice selection on offer. Total receipts were below both the prior reported test February 4^th and a year ago. 97% of the run were feeder cattle, 61% of those were steers, and 83% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds ranged from $287 to $311 and 900-to-950-pound steers brought $254 to $257.50. Medium and Large 1 feeder heifers weighing 500 to 550 pounds sold at $325 to $334 and 600-to-700-pound heifers were reported at $278 to $308.50.

Boxed beef at midday was lower with light to moderate movement. Choice was down $.70 at $314.17 and Select beef was $1.26 lower at $302.76 for a spread of $11.41.

Cash hogs are steady to lower with light to moderate opening negotiated numbers at the major direct markets. Most buyers are still probably in need of near-term numbers after a couple of days of light to moderate negotiated activity. The impact of tariffs on exports is an ongoing wildcard and domestic wholesale business has been volatile, including some very wide swings in the belly primal. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area during the week ending March 1^st was 289.1 pounds, up 1 on the week and 1.8 on the year.

National direct barrows and gilts had no recent comparison with a base price range $85 to $92.50 for a weighted average of $89.03, with Iowa/Southern Minnesota at $89.26 and the Western Corn Belt averaging $89.11. The Eastern Corn Belt was not reported due to confidentiality. Butcher hogs in Dorchester, Wisconsin and Garnavillo, Iowa are $2 lower at $60. Illinois direct sows are steady at $62 to $74 with moderate demand for heavy offerings. Barrows and gilts are steady at $51 to $61 on moderate demand and offerings. Boars range from $15 to $30.

Pork at midday was up $2.36 at $100.13. Bellies gained $12.68, with butts, picnics, ribs, and hams modestly to sharply higher, and loins lower.