Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet again.  Bids and asking prices have yet to surface. Packer interest could improve as the day progresses, but significant trade volume could hold out until sometime Thursday or Friday. 

Boxed beef was mixed at midday with very good and light demand for solid offerings.  Choice was $4.61 higher at $382.18 and Select was $.34 lower at $355.05.  The Choice/Select spread is $27.13. 

At the Ozarks Regional Stockyards in Missouri feeder steers and heifers were steady to $4 higher.  Steer and heifer calves weighing less than 700 pounds were steady to $6 higher.  The USDA says demand was moderate for a very light supply.  Medium and large 1 feeder steers 886 pounds brought $312.25 and feeder steers 928 pounds brought $300.  Medium and Large 1 feeder heifers 630 pounds brought $330 and feeder heifers 703 to 730 pounds brought $310 to $330.

Cash hogs had no comparison at midday, but decent negotiated purchases. Processors have leverage and have been able to move numbers at their pace, but it hasn’t been consistent.  The industry is keeping a close eye on available supplies of market ready hogs, which have been more than ample, and hog weights, which were down nearly 3 pounds on the week and the year to 283.4 pounds, in relation to demand.  There continues to be bright spots in both global and domestic markets, but there are lingering concerns about long-term strength. Barrows and gilts at the National Daily Direct had a base range of $81 to $89.50 and a weighted average of $87.72; the Iowa/Minnesota and Western Corn Belt both had weighted averages of $88.22; the Eastern Corn Belt had a weighted average of $84.98. 

Butcher hog prices at the Midwest cash markets are steady at $62. At Illinois, slaughter sows were steady with moderate demand for light 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 higher at midday, up $2.28 at $94.10.  Bellies jumped more than $14 to start the day.  Hams and butts were also higher.  Loins, picnics, and ribs were down.