Market News

Midday cash livestock markets

Direct cash cattle trade activity was off to another quiet start to the week. Bids and asking prices have yet to surface.  Showlists for the week are mixed, higher in Texas, somewhat higher in Nebraska/Colorado, but lower in Kansas.  Significant trade volume is likely to be delayed until sometime on Thursday or Friday.

At the Joplin Regional Stockyards in Missouri, feeder steers were $5 to $25 higher.  Feeder heifers were $5 to $15 higher.  The USDA says the supply was moderate with very good demand.  Receipts were down on the week and the year.  Feeder supply included 57 percent steers, and 59 percent of the offering weighed more than 600 pounds.  Medium and Large 1 feeder steers 706 to 748 pounds brought $322 to $350 and feeder steers 804 to 845 pounds brought $296.50 to $316.  Medium and Large 1 feeder heifers 652 to 698 pounds brought $307 to $333 and feeder heifers 803 to 844 pounds brought $281 to $293.

Boxed beef was higher and sharply higher at midday with solid demand for lighter offerings.  Choice is $3.91 higher at $371.16 and Select was $.89 higher at $359.82.  The Choice/Select spread is $11.34.

Cash hogs have no comparison with large negotiated purchases.  Demand for U.S. pork on the global market has been strong, which is helping provide additional price support to the market.  Domestic demand has seen a boost with the return of the summer grilling season and there is optimism it will also continue.  The industry continues to monitor the available supplies of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct had a base range of $100 to $108 and a weighted average of $105.85; the Iowa/Minnesota had a weighted average of $106.09; the Western Corn Belt had a weighted average of $106.09. 

Butcher hog prices at the Midwest cash markets were steady at $72. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $49 to $61.  Barrows and gilts were $3 higher with moderate demand for moderate offerings at $60 to $70.  Boars ranged from $25 to $35 and $18 to $25. 

Pork values were higher at midday, up $.86 at $111.15.  Bellies, picnics, and ribs were all sharply higher.  Hams and loins were lower.