News

Midday cash livestock markets

Cash cattle deals have not been established at midday with asking prices around $123 to $124 live in the South. Asking prices haven’t been established in the North. Most of the week’s business likely won’t happen until Wednesday. Beef cutouts are expected to move higher through the day on light to moderate box movement.

Boxed beef is higher at midday on strong demand for moderate supply. Choice is up $4.66 at $304.46. Select is $2.29 higher at $283.10. The choice/select spread is $21.36.

At the Oklahoma National Stockyards in Oklahoma, compared to last week, feeder steers and heifers sold unevenly steady. USDA says demand was moderate to good. The auction noted futures trading lower had little impact on the cash trade. Feeder supply included 61 percent steers and 71 percent of the offering was over 600 pounds. Medium and large 1 feeder steers 705 to 739 pounds brought $153 to $164 and feeder steers 756 to 792 pounds brought $149 to $160. Medium and large 1 feeder heifers 606 to 646 pounds brought $148 to $160.50 and feeder heifers from 653 to 694 pounds brought $142.50 to $154.

Cash hogs are slightly lower. The industry continues to monitor the availability of market-ready barrows and gilts. While prices have pulled back in recently, the strong demand for US pork on the global market and domestically have provided some price support.  Overall, that is expected to continue.  However, should a disruption occur, prices would likely be negatively impacted. Barrows and gilts at the National Daily Direct had a weighted average of $98.40; the Iowa/Minnesota had a weighted average of $101.79; the Western Cornbelt had a weighted average of $100.05; the Eastern Cornbelt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady at $70. Garnavillo, Iowa is closed for the week.

Pork values are higher at midday, up $3.73 at $127.99. Bellies are sharply higher, up $21.46. Loins, picnics, ribs and butts are higher. Hams are sharply lower, down more than $7.