Market News

Midday cash livestock markets

Direct cash cattle trade is quiet with bids and asking prices still not established.  There has been some talk that some steers and heifers are priced around $122 in parts of Texas.  This week’s showlists are mixed – lower in Texas and Nebraska, but higher in Kansas and Colorado.  Look for significant trade volume to develop later in the week.

Boxed beef is mixed at midday on light demand for light offerings.  Choice is $.92 lower at $214.50 and Select is $.94 higher at $201.88.

At the Tri-State Livestock Auction in Nebraska, receipts are nearly steady on the year.  The USDA says demand was good on all weights offered.  Feeder supply included 56 percent steers and 32 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 589 pounds brought $153 to $167 and feeder steers 662 to 691 pounds brought $148 to $163.50.  Medium and Large 1 feeder heifers 464 to 499 pounds brought $144 to $156 and feeder heifers 552 to 590 pounds brought $133 to $144.

Cash hogs opened weak with moderate negotiated purchase totals.  There is a large number of ready barrows and gilts coming online.  While that meets packers needs, it also puts them in position to set prices.  The demand picture remains uncertain – and as long as that continues – look for the cash market to struggle to find any solid ground to move prices higher.  Barrows and gilts at the Iowa/Southern Minnesota opened $.31 lower with a range of $44 to $46.50 for a weighted average of $45.93; the Western Corn Belt opened $.39 lower with a range of $43 to $46.50 for a weighted average of $45.92; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct opened $.50 lower with a range of $42 to $47.89 for a weighted average of $46.66.

Butcher hogs at the Midwest cash markets are steady in Dorchester, Wisconsin at $36.  No markets in Garnavillo, Iowa this week and Zumbrota, Minnesota is not available.  At Illinois, slaughter sow receipts are up on the week and down on the year.  Prices are steady at $21 to $40 with moderate demand for moderate offerings.  Barrow and gilt prices are steady at $26 to $34 with moderate demand for moderate offerings.

Pork values are higher at midday – up $1.17 at $73.92.  Loins, ribs, hams, and bellies were all higher.  Butts were steady.  Picnics opened lower.