Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet. Asking prices have surfaced at $224 to $225 live in the South, but still haven’t been floated in the North.  Bids remain elusive.  Showlists are lower across all major feeding areas. Look for significant trade volume to develop sometime Thursday or Friday.

At the Joplin Regional Stockyards in Missouri, feeder steers less than 625 pounds sold $10 to $25 higher, with heavier weights selling $3 to $15 higher.  Feeder heifers less than 625 pounds were $4 to $15 higher, with heavier weights selling from $4 lower to $5 higher.  The USDA says the supply was heavy with very good demand.  A high percentage of the offering was high quality.  Receipts were up on the week and the year.  Feeder supply included 56 percent steers and 54 percent of the offering weighed more than 600 pounds.  Medium and Large 1 feeder steers 650 to 687 pounds brought $331 to $366 and feeder steers 800 to 816 pounds brought $298.50 to $306. Medium and Large 1 feeder heifers 553 to 599 pounds brought $321 to $365 and feeder heifers 600 to 646 pounds brought $302 to $330. 

Boxed beef was mixed at midday with light to moderate demand for solid offerings.  Choice is $1.43 to $349.57 and Select is $1.35 lower at $333.88.  The Choice/Select spread was $15.69. 

Cash hog prices were not reported at midday with solid negotiated purchases. Demand for U.S. pork on the global market, outside of China, has been strong.  That’s supportive to prices.  While there is a trade agreement in principle with China, it could take a bit for pork sales to start to tick back up.  The industry continues to monitor supplies of market-ready hogs and hog weights. The five-day rolling average for barrows and gilts at the National Daily Direct is $94.12; at the Iowa/Minnesota it is $94.06; at the Western Corn Belt it’s $94.59; and at the Eastern Corn Belt it’s $92.24.

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sow prices were $3 higher with moderate demand for moderate offerings at $43 to $55.  Barrows and gilts were steady with moderate demand for moderate offerings at $52 to $62.  Boars ranged from $25 to $35 and $18 to $25.

Pork values were higher at midday – up $.71 higher at $97.22.  Ribs were sharply higher.  Hams, butts, and bellies were higher.  Picnics and loins were lower.