Market News

Midday cash livestock markets

Direct cash cattle trade activity was quiet again on Tuesday.  Bids haven’t surfaced, but asking prices were floated in parts of Texas at $225 live.  Showlists are mixed, higher in Kansas, nearly steady in Nebraska/Colorado, but lower in Texas.  Significant trade volume isn’t expected until sometime Thursday or Friday.

At the Oklahoma National Stockyards, feeder steers were $8 to $15 higher.  Feeder heifers were $15 to $25 higher.  Steer and heifer calves were $20 to $30 higher, with spots of $40 higher.  The USDA says demand was good.  Quality was average to attractive.  Receipts were up on the week, but down on the year.  Medium and Large 1 feeder steers 600 to 643 pounds brought $361 to $421 and feeder steers 707 to 748 pounds brought $329.50 to $369.50.  Medium and Large 1 feeder heifers 650 to 679 pounds brought $312 to $336. 

Boxed beef was sharply lower at midday with light demand for solid offerings.  Choice was $2.69 lower at $366.20 and Select was $4.74 lower at $353.14.  The Choice/Select spread was $13.06. 

Cash hogs had no comparison at midday with moderate negotiated purchases.  Solid moves in pork values recently suggests that there is decent demand for pork.  But, overall, the market is struggling to find direction.  Processors have the leverage right now and are able to move needed numbers without having to get too aggressive in their procurement efforts.  Prices have been reflective of that. The industry is also monitoring available supplies of market-ready hogs and hog weights, which have been creeping back up.  Barrows and gilts at the National Daily Direct had a base range of $65 to $74 and a weighted average of $70.06; the Iowa/Minnesota had a weighted average of $71.05; the Western Corn Belt had a weighted average of $71.05.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $60. At Illinois, slaughter sow prices were $2 lower with moderate demand for heavy offerings at $40 to $52.  Barrows and gilts were steady with moderate demand for moderate offerings at $42 to $50.  Boars ranged from $20 to $30 to $15 to $20. 

Pork values were higher at midday, up $.22 at $95.01.  Picnics and hams were sharply higher.  Ribs were up.  Butts were about steady, while loins and bellies were sharply lower.