Market News

Midday cash livestock markets

Direct cash cattle trade activity was relatively quiet to start the day.  A few bids have resurfaced at $220 live in the South.  But it looks like the bulk of business has wrapped up.  For the week, live deals in Texas ranged from $218 to $220, $1 lower to $1 higher than the previous week’s business.  Live deals in Kansas were at mostly $220, $1 higher than the prior week’s weighted averages.  Dressed deals in Nebraska were at mostly $358, $2 higher than the previous week’s weighted average basis in Nebraska. 

At the MO-Kan Livestock Market in Missouri, steers and heifers were mostly steady.  The USDA says demand was good on a light to moderate supply.  Feeder supply included 47 percent steers and 23 percent of the offering weighed more than 600 pounds.  Medium and Large 1 feeder steers 560 to 590 pounds brought $378 to $395 and feeder steers 612 to 633 pounds brought $337 to $363.50.  Medium and Large 1 feeder heifers 453 to 496 pounds brought $342 to $380 and feeder heifers 507 to 545 pounds brought $331 to $349. 

Boxed beef was sharply higher at midday with very good demand for solid offerings.  Choice is $3.18 higher at $353.08 and Select is $3.86 higher at $343.04.  The Choice/Select spread is $10.04. 

Cash hog prices were not reported at midday due to confidentiality.  There were light negotiated purchases.  Processors haven’t been incredibly aggressive in their procurement efforts and have been moving needed numbers without having to bid up.  Demand for U.S. pork remains key.  Globally, outside of China it has remained relatively strong.  Domestically, there’s optimism it will see a boost with summer grilling season just around the corner.  Strong demand is needed to provide price support. The five-day rolling average for barrows and gilts at the National Daily Direct is $93.73. 

Butcher hog prices at the Midwest cash markets are steady at $66. 

Pork values were weak at midday – down $.10 at $99.62.  Bellies were sharply lower.  Loins and ribs were lower.  Butts, picnics, and hams were all higher.