Market News

Midday cash livestock markets

Direct cash cattle trade activity is relatively quiet.  There was a light round of business on Tuesday, in the North, at mostly $350 dressed, which is steady with last week’s weighted averages.  Volumes were light so it wasn’t enough business to establish an accurate price trend for the week.  Bids and asking prices have not resurfaced. 

Boxed beef was mixed at midday with moderate and light demand for moderate offerings.  Choice was $.01 higher at $382.67 and Select was $2.41 lower at $362.07.  The Choice/Select spread was $20.60. 

At the Ozarks Regional Stockyards in Missouri, feeder steers and heifers were steady to $6 higher.  Steer and heifer calves weighing less than 700 pounds were steady to $6 lower.  The USDA says demand was good on a moderate supply.  There were several drafts of green yearlings in the day’s offering.  Receipts were down on the week, but up on the year.  Feeder supply included 58 percent steers with 51 percent of the offering weighing more than 600 pounds.  Medium and Large 1 feeder steers 603 to 647 pounds brought $360 to $385 and feeder steers 808 to 844 pounds brought $320 to $340.  Medium and Large 1 feeder heifers 609 to 623 pounds brought $340 to $346 and feeder heifers 654 to 686 pounds brought $325 to $344. 

Cash hogs are lower with moderate negotiated purchases.  Packers have leverage they’re able to move needed numbers without having to get too aggressive in their procurement efforts.  The industry continues to monitor available supplies of market-ready hogs and hog weights, especially as it relates to demand. Hog weights rose this week to 289.2 pounds, that’s up more than 2 pounds on the week and up 1.5 pounds on the year. Barrows and gilts at the National Daily Direct are $.55 lower with a base range of $69 to $79 and a weighted average of $77.46 and the Western Corn Belt is $.05 lower with a weighted average of $77.96.  Prices at 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 at $43 to $55.  Barrows and gilts were steady with moderate demand for moderate offerings at $53 to $63.  Boars ranged from $25 to $35 and $15 to $20. 

Pork values were lower at midday, down $.28 at $87.49.  Bellies and picnics were down sharply.  Ribs and loins were lower.  Butts and hams were up.