Market News

Midday cash livestock markets

Direct cash cattle trade activity relatively quiet. Bids are on the table at $226 in Kansas, but at Friday’s start, that is the only development thus far in the fed cash cattle market. So far this week, there’s been some light trade in the North at $345 to $350, but no Southern trade has developed yet.

Boxed beef is mixed. Choice is $2.43 lower at $374.36. Select is $.47 higher at $353.36. The Choice/Select spread is $21. 

At the Ogallala Livestock Auction in Nebraska, compared to two weeks ago, calves were $9 to $15 higher and feeders were $5 to $14 higher. The USDA says demand was good to moderate. Receipts were down on the week, but up on the year. Feeder supply included 39 percent steers with 53 percent of the offering over 600 pounds. Medium and large 1 feeder steers 554 to 598 pounds brought $444 to $466 with an average price of $454.84. Medium and large 1 feeder heifers 468 to 499 pounds brought $443 to $463 with an average price of $450.42.

Cash hogs were not reported at midday. It wouldn’t be a surprise if business was slow today after a solid few days of business where processors were aggressive in their procurement efforts. Packers are moving numbers at their pace with lower prices. The industry continues to watch domestic and global demand.

The five-day rolling average for barrows and gilts at the National Daily Direct are $77.85; Iowa/Minnesota is $78.01; Western Cornbelt $78; Eastern Corn Belt $78.44.

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sows were steady with moderate demand for light offerings at $43 to $55. Barrows and gilts prices were steady with moderate demand for moderate offerings at $53 to $63. Boars ranged from $25 to $35 and $15 to $20.

Pork values are $.81 higher at $86.10. Picnics, loins and bellies were higher to sharply higher. Butts, ribs and hams were lower.