Market News

Midday cash livestock markets

Direct cash cattle trade is off to a quiet start to the week. Last week Northern dressed cattle traded at mostly $350 which is $5.00 to $6.00 higher than the previous week’s weighted average, and although Southern live  cattle didn’t trade until late in the day, Southern cattle were marked at mostly $226 which is $3.00 to $4.00 higher than the previous week’s weighted average.

Boxed beef is higher. Choice is $2.71 higher at $378.65, and Select is $1.08 higher at $354.21. The Choice/Select spread is $24.44.

At the Dunlap livestock Feeder Cattle Auction in Iowa, compared to two weeks ago, steers 750 pounds sharply higher, 900 pounds sharply higher with load lots in the offering and lighter numbers than the previous sale. No test on heifers. Receipts were down on the week, but up on the year. The USDA says demand was good. Feeder supply included 58 percent setters with 64 percent of the offering over 600 pounds. Medium and large 1 feeder steers 751 to 788 pounds brought an average price of $346.68. Medium and large 1 feeder heifers 853 to 899 pounds brought an average price of $294.13.

Cash hogs have no comparison and had a very light negotiated run. The market has been inconsistent recently and the start to the week is no exception. The industry continues to monitor domestic and global demand. While it’s been strong in both areas recently, there are some long-term concerns. The industry is also monitoring the supplies of market-ready hogs and hog weights. The five-day rolling average for barrows and gilts at the National Daily Direct are $87.21; Iowa/Minnesota is $88.22; Western Corn Belt $88.22; and Eastern Corn Belt is $84.86.

Butcher hog prices at the Midwest Cash Markets are higher at $63. 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. Boards ranged from $22 to $32 and $10 to $13.

Pork values are $.25 higher at $90.05. All cuts are higher except bellies are sharply lower.