Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  Bids haven’t surfaced yet, but packer interest could improve throughout the day.  Asking prices did surface at $225 live in the South on Tuesday, and the rest of cattle country was quiet. Nothing has been restated today.  Significant trade volume isn’t expected until the latter part of the week. 

Boxed beef was mixed at midday with solid and light demand for moderate offerings.  Choice was $2.30 higher at $382.05 and Select was $2.81 lower at $357.64.  The Choice/Select spread was $24.41. 

At the Philip Livestock Auction in South Dakota, no market comparison was available, but the USDA says demand was good in house and moderate on-line.  The market was moderate to active.  Receipts were up on the week.  Feeder supply included 51 percent steers with 13 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 514 to 522 pounds brought $440 to $466 and feeder steers 582 to 594 pounds brought $422 to $432.50.  Medium and Large 1 feeder heifers 464 to 479 pounds brought $410 to $425 and feeder heifers 557 to 569 pounds brought $373 to $385. 

Cash hogs are higher at midday with decent negotiated purchases. Processors appear to be a bit more aggressive in their procurement efforts.  Demand continues to play a big role in the market, and while there have been some bright spots, there are long-term concerns that linger. Hog weights jumped more than 2 pounds this week to 286.2 pounds, that’s also about 3.5 pounds more than year-ago levels. Barrows and gilts at the National Daily Direct are up $.75 with a. base range of $84 to $96 and a weighted average of $90.39.  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 $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 lower at midday, down $1.79 at $96.11.  Bellies were down nearly $9.  Hams, ribs, and butts were all lower.  Loins and picnics were up.