Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet.  Bids and asking prices haven’t resurfaced.  There was some light trade reported on Wednesday at $350 dressed in the North, but it wasn’t enough to establish an accurate price trend.  Look for more trade to take place over the balance of the week. 

Boxed beef was lower at midday with light demand for moderate offerings.  Choice was $2.28 lower at $375.03 and Select was $.05 lower at $352.29.  The Choice/Select spread was $22.74.

At the Huss Livestock Market in Nebraska, steers 700 to 1000 pounds were $5 to $15 higher and heifers weighing more than 700 pounds were steady to $10 higher.  The USDA says demand was good from the buyers in the crowd and online.  Receipts were up from the most recent sale and on the year.  Feeder supply included 67 percent steers with 80 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 857 to 895 pounds brought $332.50 to $349 and feeder steers 955 to 991 pounds brought $320 to $340.  Medium and large 1 feeder heifers 812 to 844 pounds brought $317 to $322 and feeder heifers 902 to 919 pounds brought $313 to $313.25. 

Cash hogs are lower at midday with light negotiated purchases.  The USDA’s Quarterly Hogs and Pigs report is out this afternoon, and the market is look to see an update on total supplies along with production efficiency.  Demand remains crucial, and the USDA reports a solid week of export sales.  While there continues to be bright spots in the demand sector, there are lingering, long-term concerns about strength. Barrows and gilts at the National Daily Direct were down $.32 lower with a base range of $78 to $83 with a weighted average of $79.01 and the Western Corn Belt had no comparison but a weighted average of $79.01.  The Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sows were steady with moderate demand for moderate offerings with $43 to $55.  Barrows and gilts were $2 lower with moderate demand for moderate offerings at $53 to $63.  Boars ranged from $22 to $32 and $10 to $13. 

Pork values were firm at midday, up $.18 at $87.00.  Loins, butts, and hams were higher.  Picnics were firm.  Bellies and ribs were down.