Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet at Tuesday’s open with both bids and asking prices still elusive. Trade will likely be delayed until later in the week.

Boxed beef is sharply higher with Choice $4.20 higher at $382.46, and Select $2.05 higher at $360.62. The Choice/Select spread is $21.84.  

At the Joplin Regional Stockyards in Missouri, compared to last week, feeder steers under 800 pounds sold $2 to $10 lower and weights over 800 pounds sold steady to $3 higher. Feeder heifers sold $2 to $8 lower. The USDA says demand was good. Receipts were down on the week, but up on the year. Feeder supply included 64 percent steers with 71 percent of the offering over 600 pounds.  Medium and large 1 feeder steers 900 to 937 pounds brought an average price of $313.94. Medium and large 1 feeder heifers 800 to 849 pounds brought an average price of $325.29.

Cash hogs are sharply lower with a moderate negotiated run. Processors have leverage and are moving numbers and their pace after an inconsistent day yesterday. The industry continues to monitor the available supplies of market-ready hogs and hog weights. 

Barrows and gilts at the National Daily Direct are $2.43 lower with a base range of $74 to $80 with a weighted average price of $76.09; Iowa/Minnesota is $2.59 lower with a weighted average price of $75.93; Western Cornbelt was $2.42 lower with a weighted average price of $76.10; Eastern Cornbelt did not report due to confidentiality reasons.

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sows were $2 higher with moderate demand for moderate offerings at $45 to $57. 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 $1.17 higher at $87.18. Bellies are sharply higher with loins, buts and ribs higher. Picnics and hams are lower.