Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet to start after Thursday’s solid day of business.  Bids have been renewed at $355 in Nebraska.  For the week, Northern dressed deals have been mostly $353 to $355, $10 to $12 higher than the prior week’s weighted average basis in Nebraska.  Southern live deals have been at $230, $6 higher than the previous week’s weighted averages. 

At the Ogallala Livestock Auction in Missouri, steers were $10 to $40 higher.  Heifers were $10 to $25 higher.  The USDA says demand was good throughout the day.  Receipts were up on the week and the year.  Feeder supply included 62 percent steers and 51 percent of the offering weighed more than 600 pounds.  Medium and Large 1 feeder steers 601 to 629 pounds brought $442 to $458.50 and feeder steers 651 to 683 pounds brought $405 to $421.  Medium and Large 1 feeder heifers 554 to 592 pounds brought $401 to $424 and feeder heifers 652 to 692 pounds brought $360.50 to $373. 

Boxed beef was mixed with light to moderate demand for moderate offerings.  Choice was $.85 lower at $357.26 and Select is $1.32 higher at $344.78.  The Choice/Select spread is $12.48.

Cash hog prices are lower with just a handful of negotiated purchases.  A quiet end to the week isn’t a big surprise as processors have move been a little more aggressive in their procurement efforts and likely have needed numbers on hand.  The industry continues to look to available supplies of market-ready hogs and hog weights, which have been pushing higher.  Demand remains the big unknown.  Pork is a competitively priced protein in the retail space, which is likely helping provide a boost to domestic demand, but global demand remains unclear as export sales data still isn’t fully available. Barrows and Gilts at the National Daily Direct were $1.11 lower with a base range of $68 to $74 with a weighted average of $70.93.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $52. At Illinois, slaughter sow prices were $3 lower with moderate demand for light offerings at $35 to $47.  Barrows and gilts were steady with moderate demand for moderate offerings at $40 to $48. Boars weighing less than 300 pounds were $18 to $22 and boars weighing more than 300 pounds were $12 to $15. 

Pork values were lower, down $.30 at $98.54.  Hams were sharply lower.  Ribs and picnics were down.  Loins, bellies, and butts were all higher.