Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  Bids and asking prices have yet to surface.  Showlists for the week are lower across all major feeding areas.  Look for significant trade volume to be delayed until sometime Thursday or Friday. 

Boxed beef was higher at midday with solid demand for moderate offerings.  Choice was $2.20 higher at $378.02 and Select was $2.17 higher at $360.66.  The Choice/Select spread is $17.36. 

At the Oklahoma National Stockyards, feeder steers were unevenly steady, and feeder heifers were steady to $5 lower.  The USDA says demand was moderate to good.  Steer and heifer calves were $8 to $15 lower.  Demand was limited for calves.  Receipts were up on the week.  Feeder supply included 56 percent steers with 59 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 714 to 745 pounds brought $335 to $350 and feeder steers 850 to 876 pounds brought $310 to $318.  Medium and Large 1 feeder heifers 606 to 647 pounds brought $332 to $355 and feeder heifers 809 to 830 pounds brought $298 to $306. 

Cash hogs are higher at midday with solid negotiated purchases.  Processors appear to be more aggressive in their procurement efforts and are bidding up to move needed numbers.  The market continues to monitor demand, and while there have been some bright spots there are still lingering concerns about long-term strength.  The industry is also monitoring the availability of market-ready hogs and hog weights.  Barrows and gilts at the National Daily Direct are $.99 higher with a base range of $80 to $96 and a weighted average of $89.64; the Iowa/Minnesota had no comparison but a weighted average of $89.11; the Western Corn Belt also had a weighted average of $89.05.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 higher at $66. At Illinois, slaughter sows were steady with moderate demand for light to moderate offerings at $43 to $55.  Barrows and gilts were steady with moderate demand for moderate offerings at $55 to $65.  Boars ranged from $22 to $32 and $10 to $13. 

Pork values were about steady at midday, up $.01 at $97.68.  Hams, butts, and ribs were up, while loins, bellies, and picnics were lower.