Market News

Midday cash livestock markets

There’s another light round of direct cash cattle business reported, deals in Nebraska marked at $415.  Bids have resurfaced in the North at $260 to $265 live, the rest of cattle country has been quiet.  There has been some trade reported everyday.   Dressed deals in the North have had a wide range of $400 to $410, mostly $405 to $410 $2 to $7 higher than the previous week’s weighted average basis.  Live business in the South has ranged from $260 to $265, mostly $260 to $262, $3 to $5 higher than prior week’s weighted averages. 

Boxed beef was mixed at midday with light and moderate demand for moderate offerings.  Choice was $.01 lower at $388.67 and Select was $.75 higher at $389.33.  The Choice/Select spread is inverted at $.66.

At the Huss Livestock Market in Nebraska, yearling heifers and steers sold in load lots and packages along with packages of weaned and bawling fall calves.  Steers and heifers sold unevenly steady.  The USDA says demand was moderate to good from buyers in-house.  Receipts were up from the most recent sale.  Feeder supply included 70 percent heifers and 90 percent of the offering weighed more than 600 pounds.  Medium and Large 1 feeder steers 650 pounds brought $457 and feeder steers 903 to 938 pounds brought $330 to $339.75.  Medium and Large 1 feeder heifers 601 to 641 pounds brought $396.50 to $415 and feeder heifers 764 to 787 pounds brought $354.75 to $364.75. 

Cash hog prices at the major direct were not reported due to confidentiality.  There were just a handful of negotiated purchases.  Processors are slow to get the day’s business underway.  There are ample supplies of market-ready hogs available, keeping demand crucial to the market.  Pork export sales were down on the week and the prior 4-week average.  There continues to be some bright spots when it comes to global demand for US pork, but there are ongoing concerns about its long-term strength.  Domestic demand could see a boost with the return of the summer grilling season. The five-day rolling average for barrows and gilts at the National Daily Direct is $95.04. 

Butcher hog prices at the Midwest cash markets are steady at $66.  At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $47 to $59.  Barrows and gilts were steady with moderate demand for moderate offerings at $47 to $57.  Boars ranged from $8 to $15 and $5 to $8. 

Pork values were higher at midday, up $.77 at $96.80.  Ribs and loins were up sharply.  Bellies were higher.  Butts, picnics, and hams were all down.