Market News

Midday cash livestock markets

Direct cash cattle trade activity is still relatively quiet.  Bids are being offered in the North at $225 live and $355 dressed, and in Texas at $225 live.  Asking prices have been noted in Texas at $230, but it has been quiet in other parts of cattle country. Look for more business to develop over the balance of the week.  

Boxed beef was mixed at midday with solid and light demand for moderate offerings.  Choice was $4.13 higher at $395.28 and Select was $1.50 lower at $365.79.  The Choice/Select spread is $30.49. 

At the McAlester Union Livestock Auction in Oklahoma, steer calves were $10 to $12 lower.  Heifer calves were $10 to $16 lower.  The USDA says demand was moderate to good.  Receipts were down on the week and the year.  Feeder supply included 39 percent steers with 12 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 515 to 540 pounds brought $391 to $415 and feeder steers 612 to 643 pounds brought $374 to $397.  Medium and Large 1 feeder heifers 505 to 530 pounds brought $355 to $389 and feeder heifers 562 to 597 pounds brought $340 to $373. 

Cash hogs are lower at midday with solid negotiated purchases.  Processors were able to move needed numbers without having to get aggressive in their procurement efforts.  The market remains largely focused on demand.  There have been some strong areas on both the global market and domestically, but there are concerns about long-term strength. The industry is also monitoring the availability of market-ready hogs and hog weights down, which are down a tenth of a pound this week to 282.6 pounds, which is 1.5 pounds higher than year-ago levels. Barrows and gilts at the National Daily Direct are $2.13 lower with a base range of $90 to $94 and a weighted average of $92.24; the Iowa/Minnesota closed $1.96 lower with a weighted average of $92.25; the Western Corn Belt closed $1.99 lower with a weighted average of $92.22.  The Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 lower at $66. At Illinois, slaughter sows were $1 higher with moderate demand for moderate offerings at $43 to $55.  Barrows and gilts were steady with moderate demand for moderate offerings at $58 to $68.  Boars ranged from $22 to $32 and $10 to $13. 

Pork values were lower at midday, down $.76 at $98.36.  Loins, hams, and butts were lower.  Picnics were about steady, up $.01 at $66.67.  Bellies and ribs were higher.