Market News

More cash cattle trade activity on Thursday

Chicago Mercantile Exchange live and feeder cattle futures were lower on technical selling, while waiting to see how much direct cash business is left to be done this week. February live was down $.52 at $190.85 and April was $.45 lower at $192.17. January feeders were $.70 lower at $258.35 and March was down $.80 at $258.87.

Cash cattle country had some light trade reported in parts of Nebraska and Iowa on Thursday, following the previous two days of lighter trade. Deals ranged from $195 to $196 on a live basis and $305 dressed. Asking prices continue to be around $192-plus in the South but have been pulled back in the North in light of higher bids.

At the Huss Livestock Market in Nebraska this week, feeder steers over 550 pounds sold $2 to $7 higher and heifers were steady to $6 higher. USDA says there was a nice offering of weaned and bawling spring calves. Demand was good from the buyers in the crowd and on the internet that were bidding in the active market. Feeder supply included 60% steers and 71% of the offering was over 600 pounds. Medium and Large 1 feeder steers 701 to 743 pounds brought $286.50 to $301.75. Medium and Large 1 feeder heifers 700 to 745 pounds sold for $254 to $264.

Boxed beef closed higher with Choice up $4.01 at $315.24 and Select up $2.37 at $280.48. The spread was $34.76.

Estimated cattle slaughter was 125,000 head – up 7,000 on the week and up nearly a thousand on the year.

Lean hog futures were mixed, mostly firm, on spread trade and oversold signals. February was up $.10 at $84.47 and April was $.20 higher at $88.45.

Cash hog business was steady to sharply lower with light closing negotiated numbers at the major direct markets. It looks like most buyers had the needed near-term numbers in hand after the more aggressive movement earlier in the week, adding just 15 head to the negotiated sales total between the open and the close. Domestic pork demand continues to be inconsistent. 2024 pork export sales of 22,500 tons were down 36% on the week, with Mexico and Japan topping the list. 2025 sales of 4,600 tons were primarily to South Korea.

Barrows and gilts at the National Daily Direct were down $2.37 with a base range of $72 to $83.50. The Iowa/Minnesota was down $2.81 with a weighted average of $79.16. The Western Corn Belt was down $2.64 with a weighted average of $79.09.

Butcher hogs were mostly steady at $52 at the Midwest cash markets. Slaughter sows are steady with a range of $39 to $45. Boars were priced at $13.

Pork values closed lower – down $.56 at $92.31.

Estimated hog slaughter was 478,000 head – up 6,000 on the week and down more than 9,000 on the year.