Market News

Midday cash livestock markets

Direct cash cattle trade activity is relatively quiet. While the bulk of the week’s business has likely wrapped up, bids have been restated at $212 live and $335 dressed in the North.  Asking prices are around $210-plus live in the South and $336-dressed in the North.  There was a light round of direct cash cattle business reported on Thursday with northern dressed deals marked at $332 to $335, $4 to $7 higher than the previous week’s weighted averages.  Southern live deals were at $210, $6 higher than the previous week’s business. 

At the Mitchell Livestock Auction in South Dakota, the undertone on light steers was unevenly steady, steers 800 to 1050 pounds were $8 to $11 higher.  There was a lower undertone on light heifers, heifers 800 to 950 pounds were steady to $4 higher.  The USDA says demand was good, and the offering included some large load lots.  Receipts were down on the week and the year.  Feeder supply included 50 percent steers and 98 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 806 to 819 pounds brought $289 to $309.50 and feeder steers 959 to 998 pounds brought $257.50 to $280.25.  Medium and Large 1 feeder heifers 871 to 899 pounds brought $245 to $259 and feeder heifers 915 to 947 pounds brought $239 to $240.50. 

Boxed beef was mixed at midday with light to moderate demand for moderate offerings.  Choice is $.70 lower at $332.20 and Select was $.26 higher at $316.65.  The Choice/Select spread is $15.55.

Cash hogs had no comparison at midday with fairly light negotiated purchases. Demand for U.S. pork has been relatively strong, but it’s another week where China was noticeably absent from the USDA’s Export Sales report.  Domestic demand could see a bump as pork continues to be a competitively priced protein, and with grilling season just around the corner. The industry continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct had no comparison but a base range of $77 to $83 and a weighted average of $81.51.  Prices at the Regional Direct Markets were not reported due to confidentiality.

Pork values were sharply higher at midday – up $5.19 at $97.97.  Bellies jumped more than $15.  Butts, loins, and hams were also sharply higher.  Picnics and ribs were lower.