Market News

Midday cash livestock markets

Direct cash cattle trade activity is pretty sparse.  There were a few scattered bids renewed at $121 to $122 live and $195 to $196 dressed.  Asking prices are holding at $126 to $127 live and $200 to $203 dressed.  The distance between the two could delay any significant trade volume until late in the day Friday.

Boxed beef opened firm with moderate demand for light offerings.  Choice is $.66 higher at $217.87 and Select is $.66 higher at $212.70.  The Choice/Select spread is $5.17. 

At the Hub City Livestock Auction in South Dakota, receipts are down on the week and the year.  Compared to last week, steers 550 to 700 pounds were $3 to $6 lower and steers 701 to 850 pounds were mostly steady.  Heifers 550 to 600 pounds were $3 to $5 lower.  The USDA says demand was good for the offering of many packages and loads of home-raised steers and heifers.  Flesh varied, but most were moderate to moderate plus.  Quality was mostly average to attractive on a moderate to active market.  Feeder supply included 62 percent steers and 86 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 645 pounds brought $156.50 to $165 and Medium and large 1 feeder heifers 607 to 648 pounds brought $136.50 to $149.25. 

Cash hogs opened sharply lower with moderate negotiated purchase totals.  The supply of ready barrows and gilts is ample while demand woes continue, and the uncertainty is adding more pressure to prices.  Mother Nature is still creating some challenges as another round of winter weather is moving through. If slaughter runs slow again this week – it’s likely hog weights will start to push higher adding more pork to a market that is already saturated.  Barrows and gilts and gilts at the Iowa/Southern Minnesota opened $1.80 lower with a range of $50.25 to $53 for a weighted average of $50.63; the Western Corn Belt opened $1.83 lower with a range of $47 to $53 for a weighted average of $50.59; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct opened $.71 lower with a range of $47 to $53 for a weighted average of $51.55.

Butcher hog prices at the Midwest cash markets are steady at $34.  At Illinois, slaughter sow prices are steady at $16 to $30 with light to moderate demand for moderate offerings.  Receipts are down on the week and the year.  Barrow and gilt prices are steady to $2 higher at $30 to $38 with moderate demand for moderate offerings. 

Pork values are weak at the midday – down $.48 at $68.22.  Hams opened sharply lower.  Butts and loins are steady to weak.  Picnics are steady.  Bellies and ribs are sharply higher.