Market News

Midday cash livestock markets

Direct cash cattle trade activity remains pretty quiet.  Bids have been elusive.  Asking prices are around $207-plus live in the South, but those still haven’t been established in the North.  Packer inquiry is expected to pickup as the day progresses.  But significant trade volume will likely be delayed until sometime on Friday.

At the Huss Livestock Market in Nebraska, steers and heifers over 600 pounds were steady to $10 higher with instances of sharply higher.  The USDA says demand was good from the buyers in house and online.  The offering was made up of mostly weaned and vaccinated steers, but was less than expected due to winter weather across much of the area.  Receipts were down on the week and the year.  Feeder supply included 56 percent steers and 93 percent of the offering was more than 600 pounds. Medium and Large 1 feeder steers 700 to 747 pounds brought $300 to $320 and feeder steers 853 to 892 pounds brought $279 to $292.50.  Medium and Large 1 feeder heifers 655 to 693 pounds brought $288 to $299.50 and feeder heifers 702 to 739 pounds brought $281.50 to $287.

Boxed beef was higher at midday with solid demand for moderate offerings.  Choice is $.34 higher at $329.95 and Select is $1.74 higher at $210.42.  The Choice/Select spread is $19.53. 

Cash hogs are firm with solid negotiated purchases.  Processors have been more aggressive in their procurement efforts and have been bidding up to move needed numbers, that could impact today’s overall business.  Demand for U.S. pork on the global market, but the industry is seeing consecutive weeks with export sales hitting marketing year lows.  There could be some opportunity for domestic demand to see a boost as U.S. pork remains a more competitively priced protein.  The industry is also looking at the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct were $.35 higher with a base range of $87.50 to $92 and a weighted average of $90.40.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

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

Pork values were firm at midday – up $.27 at $95.46.  Bellies and butts were both higher.  Loins, picnics, ribs, and hams were all lower.