Market News

Midday cash livestock markets

There is a very light round of direct cash cattle trade activity being reported.  Dressed deals in Nebraska are marked at $360, fully steady with the rest of the week’s business.  Trade this week in the North is running about $2 higher than the previous week’s weighted average basis in Nebraska.  However  live deals in the South have ranged from $230 to mostly $232, $4 below the prior week’s weighted averages. 

At the Ogallala Livestock Auction in Nebraska, steers and heifers had a mostly lower trend, except heifers weighing 500 to 550 pounds, which were $9 higher.  The USDA says the market has struggled throughout the week because of a tough week on the board, but buyers were stilling active for the right type of cattle.  Receipts were up on the week and the year.  Feeder supply included 69 percent steers with 17 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 500 to 544 pounds brought $440 to $462 and feeder steers 563 to 597 pounds brought $406 to $427.50.  Medium and Large 1 feeder heifers 466 to 490 pounds brought $431 to $454 and feeder heifers 550 to 592 pounds brought $375 to $388.

Boxed beef was mixed at midday with light to moderate demand for solid offerings.  Choice was $.54 lower at $377.43 and Select is $1.44 higher at $362.20.  The Choice/Select spread was $15.23. 

Cash hogs lower at midday with very light negotiated purchases.  Processors were aggressive in their procurement efforts early in the week and likely had  needed numbers on hand.  The industry continues to monitor the availability of market-ready hogs and hog weights.  There is still a lot of uncertainty surrounding demand as critical trade and export date are missing as the government shutdown continues.  Hog prices have pulled back some, which could help spur some buying in the last quarter of the year. Barrows and gilts at the National Daily Direct are $.19 lower with a base range of $77 to $85 and a weighted average of $84.48.  Prices at the Regional Direct Markets were not reported at middays due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $68. At Illinois, slaughter sow prices were $1 lower with moderate demand for light offerings at $52 to $64.  Barrows and gilts were steady with moderate demand for moderate offerings at $50 to $60.  Boars ranged from $20 to $30 and $15 to $20. 

Pork values were sharply higher, up $2.57 at $99.75.  Butts, loins, bellies, picnics, and hams were sharply higher and higher.  Ribs were sharply lower.