Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  Bids and asking prices haven’t surfaced.  Significant trade volume is likely going to hold out until sometime Thursday or Friday. 

Boxed beef was mixed at midday with light and moderate demand for moderate offerings.  Choice was $1.02 lower at $369.08 and Select was $.55 higher at $356.  The Choice/Select spread was $13.08. 

At the Oklahoma National Stockyards, feeder steers and heifers were $15 to $25 lower.  Steer and heifer calves were $20 to $30 lower with spots up to $40 lower.  The USDA says demand was moderate.  Quality was plain to average, the best demand was seen for cattle coming off grass.  Receipts were down on the week and the year.  Feeder supply included 55 percent steers with 62 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 654 to 691 pounds brought $377 to $395 and feeder steers 752 to 798 pounds brought $346 to $361.50.  Medium and Large 1 feeder heifers 668 to 687 pounds brought $340 to $350 and feeder heifers 752 to 799 pounds brought $314 to $327. 

Cash hogs have no comparison at midday with just a handful of negotiated purchases.  The cash hog market has struggled with consistency.  Processors continue to control the pace of business and are expected to be more aggressive in their procurement efforts.  The market has been largely focused on demand.  Globally, there have been some bright spots and with pork’s competitive price in the retail space, it supportive to domestic demand.  But there are still long-term concerns that linger.  The industry is also monitoring the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct have a base range of $94 to $100 and a weighted average of $98.13.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sows were steady with moderate demand for moderate offerings at $36 to $49.  Barrows and gilts were steady with moderate demand for moderate offerings at $60 to $70.  Boars ranged from $22 to $32 and $10 to $13. 

Pork values were higher at midday, up $2.00 at $105.10.  Hams, ribs, and bellies were all sharply higher.  Picnics, butts, and loins.