Market News

Wednesday midday cash livestock markets

Direct cattle markets are quiet and unless packer demand suddenly strengthens, widespread trade isn’t expected until Thursday or Friday. Asking prices are holding around $147 South and $235 to $236+ North. There are a few bids at $142 to $143 Live in Kansas and Texas, while the North remains at a standstill.

Boxed beef at midday was firm to higher. Choice was up $.08 at $232.59 and Select was $1.05 higher at $223.40.

At the Kingdom City-Callaway County Livestock Center, 400 to 700 pound steers and heifers were $5 to $10 higher, with spot loads as much as $15 higher. Demand was called good to very good, with a moderate supply, mostly 400 to 700 pounders. 560 to 585 pound feeder steers sold at $237.50 to $248. 450 to 490 pound feeder heifers ranged from $220 to $239.

Cash hog trade is mixed at midday. The market continues to send some conflicting signals. Market ready numbers may be tightening and pork demand may have improved recently, but that’s not really reflected by the early major direct and wholesale trade. Of course, things don’t always close where they open. The average Iowa/Southern Minnesota hog weight of 286.7 pounds was unchanged on the week and up nearly twelve pounds on the year.

National Direct barrows and gilts opened $3.98 lower at $102 to $114, with a weighted average of $110.17. The Eastern Cornbelt had no recent comparison with a base price range of $102 to $111 and a weighted average of $110.12. The Western Cornbelt is down $2.90 at $106.50 to $114, for a weighted average of $111.44. Iowa/Southern Minnesota was not reported due to confidentiality. Midwest cash hog trade is steady to $1 higher at $74 to $80. Missouri Direct trade is steady to $6 higher at $102 to $105 with supply and demand both called light to moderate. Missouri sows are steady to $2 lower at $64 to $77.

The pork carcass cutout value at midday was down $1.15 at $121.16, with only the belly primal higher.