Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start this week. Bids and asking prices have not surfaced.  The bulk of the business is likely going to hold out until sometime later this week. Throughout last week Southern live cattle were marked at $226 which is $4.00  higher than last weeks weighted average and Northern dressed cattle sold anywhere from $345 to $350 which is steady with last weeks weighted average.

Boxed beef is higher. Choice is $2.22 higher at $376.41, and Select is $2.09 higher at $356.58. The Choice/Select spread is $19.83.

At the Ft. Pierre Livestock Auction in South Dakota, compared to the prior week, steers from 450 to 499 pounds were $8 to $12 higher, steers from 500 to 549 pounds were $15 to $20 lower. Heifers from 450 to 499 pounds were $20 to $30 lower and heifers from 900 to 949 pounds were $4 to $6 lower. The USDA says there was an active market. Receipts were down on the week, but up on the year. Feeder supply included 65 percent steers with 45 percent of the offering over 600 pounds. Medium large 1 feeder steers 550 to 589 pounds brought $431 to $462.50 with an average price of $448.26. Medium and large 1 feeder heifers 951 to 987 pounds brought $290 to $311 with an average price of $308.12.

Cash hogs are higher with a very light negotiated run. Processors are starting the week being more aggressive in their procurement efforts. The industry is monitoring the supplies of market-ready hogs and hog weights. Demand continues to be a bright-spot globally and domestically, but there are some concerns.  

Barrows and gilts at the National Daily Direct are $1.27 higher with a base range of $68 to $81 with a weighted average price of $78.52. The regional markets had no comparison, but the five-day rolling average for Iowa/Minnesota is $78.04; Western Cornbelt is $78.02 and the Eastern Cornbelt is $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 from $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 $3.26 sharply higher at $87.74. All cuts where sharply higher, except butts, which were sharply lower.