Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to another very slow start to the day.  The lone bid to have surfaced is at $315 dressed in Nebraska.  Asking prices are at $202 to $204 live in the South, but still haven’t been established in the North.  Packer inquiry is expected to improve as the day progresses, but significant trade volume may hold out until sometime Friday.

At the Hub City Livestock auction in South Dakota, steers 600 to 699 pounds, 750 to 799 pounds, and 850 to 899 pounds were mostly steady.  There were spots of $10 higher on steers 650 to 699 pounds and steers 700 to 749 pounds and 800 to 849 pounds were $12 higher.  Heifers 600 to 749 pounds were $4 to $8 higher, and heifers 750 to 849 pounds were $2 to $3 higher.  The USDA says demand was very good for backgrounding and grass-type cattle, good to very good demand for finishing-type cattle depending on flesh condition.  There was another very large offering this week that featured many packages, loads, and multiple loads.  The majority of the cattle were home-raised.  There were many attractive-quality cattle offered throughout the day.  Flesh varied from moderate to heavy.  Receipts were up on the week, but down slightly on the year.  Medium and Large 1 feeder steers 653 to 693 pounds brought $319 to $343 and feeder steers 800 to 839 pounds brought $281 to $300.  Medium and Large 1 feeder heifers 661 to 684 pounds brought $282 to $304.50 and feeder heifers 700 to 743 pounds brought $269.50 to $293.

Boxed beef was mixed at midday with light to moderate demand for moderate offerings.  Choice was $.89 higher at $321.99 and Select was $.33 lower at $307.20.  The Choice/Select spread is $14.79.

Cash hogs had no comparison, with just a handful of negotiated purchases. The cash hog market has had a pretty solid start to the week as processors have been more aggressive in their procurement efforts to keep up with the uptick in slaughter pace, so it’s no surprise to see the pullback in business today. The industry continues to monitor the demand situation, especially as the tariff and retaliatory tariff conversation continues. Export sales of pork dropped sharply this past week, to a marketing year low. Domestic demand has been inconsistent at best, which limits any upside potential in the market. The five-day rolling average for barrows and gilts at the National Daily Direct was $89.80; it was $90.57 at the Iowa/Minnesota; $90.54 for the Western Corn Belt, and $90.16 in the Eastern Corn Belt.

Butcher hog prices at the Midwest cash markets were steady at $60.

Pork values were sharply higher at midday – up $4.18 at $98.76.  Bellies were sharply higher, up more than $16.50.  Hams were also sharply higher.  Picnics, butts, and loins were up.  Ribs were about steady.