Market News

Midday cash livestock markets

It’s another very quiet start for direct cash cattle trade activity.  Bids and asking prices have been elusive.  While packer inquiry could pick up some as the day progresses, the bulk of the week’s business isn’t expected until sometime Thursday or Friday. 

Boxed beef was sharply lower at midday on light demand for solid offerings.  Choice was down $3.56 at $382.21 and Select was $2.99 lower at $362.90.  The Choice/Select spread was $19.31. 

At the Ozarks Regional Stockyards in Missouri, feeder steers weighing more than 700 pounds sold $5 to $10 higher.  Heifers were not well tested.  Steer and heifer calves weighing less than 700 pounds were $6 to $12 higher with spots of $20 higher.  The USDA says demand was good on a moderate supply.  Receipts were up from the previous week and up on the year.  Feeder supply included 74 percent steers with 58 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 650 to 664 pounds brought $426 to $442 and feeder steer s852 to 884 pounds brought $350 to $361.  Medium and Large 1 feeder heifers 552 to 570 pounds brought $420 to $452.50 and feeder heifers 601 to 618 pounds brought $395 to $411. 

Cash hogs have no comparison at midday with solid negotiated purchases.  The cash hog market has had a strong start to the week.  Processors have been moving decent numbers.  The industry continues to monitor demand, both on the global market and domestically.  While there have been some bright spots when it comes to global demand for US pork, there are concerns about long-term strength.  Summer grilling season is in full swing and with pork’s competitive price in the retail space, it could help boost domestic demand. Barrows and gilts at the National Daily Direct had a base range of $86 to $99 and a weighted average of $96.89 and the Western Corn Belt had a weighted average of $97.26.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

At Illinois, slaughter sows were steady with moderate demand for heavy offerings at $41 to $52.  Barrows and gilts were steady with moderate demand for moderate offerings at $57 to $67.  Boars ranged from $25 to $30 and $15 to $20. 

Pork values were higher at midday, up $1.07 at $98.98.  Bellies jumped nearly $10 to start the day.  Butts, hams, and ribs were all higher.  Loins and picnics were lower and sharply lower.