Market News

Midday cash livestock markets

Direct cattle markets are quiet. There are no bids, no asking prices, and it looks like widespread trade could wait until Thursday or even Friday. Market ready numbers continue to be tight and are expected to stay that way over the near term, with limited signs of herd expansion. This week’s showlist looks at least somewhat smaller than last week in all of the major feeding areas.

At the Kingsville Livestock Auction feeder cattle sale in Missouri, compared to the last test two weeks ago, steers were $10 to $20 higher and heifers were up $5 to $15. The USDA says demand was good to very good for a heavy supply with receipts up on the week and the year as business resumed after being shut down by Winter Storm Fern. 62% of the feeder offering were steers and 70% of all feeder cattle weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds were reported at $382.50 to $416 and 800-to-900-pound steers brought $360.50 to $390. Medium and Large 1 feeder heifers weighing 600 to 700 pounds ranged from $357.50 to $435 and 700-to-800-pound heifers sold at $345 to $369.

Boxed beef at midday is lower with light movement. Choice is down $.57 at $370.14 and Select beef is $.52 lower at $366.71.

Cash hogs are just about unchanged with light to moderate opening negotiated numbers at the major direct markets. There is a mostly firm undertone as buyers try to keep chain speed at a high level to meet the recent strong consumer demand. Negotiated movement continue to be light to moderate, which might be a sign of tighter than expected numbers. The average barrow and gilt weight in the Iowa/Southern Minnesota/South Dakota reporting area for the week ending January 31^st was 291.6 pounds, down 1.5 on the week, but up nine tenths on the year.

National direct barrows and gilts are $.02 higher with a base price range of $82 to $88 for a weighted average of $86.29, with Iowa/Southern Minnesota $.05 lower at $86.31 and the Western Corn Belt up $.04, also averaging $86.31. Butcher hogs at Dorchester, Wisconsin are steady at $60. Illinois direct sows are steady at $43 to $55 on moderate demand for light offerings. Barrows and gilts are steady at $42 to $52 with moderate demand and offerings. Boars range from $5 to $15.

At midday, pork is down $3.84 at $93.53. Picnics are up, but the other primal cuts are sharply lower, including a $20.02 loss in bellies.