Midday cash livestock markets

Direct cash cattle trade has been quiet through the morning. Bids and asking prices have not been established. Some business is anticipated before the weekend as packers look to purchase needed numbers from feed lots.

Boxed beef is lightly higher at midday. Choice is up $.26 at $268.31 and select is $.26 higher at $243.19. The choice/select spread is $25.12.

At the Green City Livestock Auction in Missouri, compared to the last test, steer calves under 600 pounds sold steady, all heifers and heavier steers sold $5 to $10 higher. UDSA says quality was very high highlighted by nine load lots of heifers. USDA says demand was good to very good on moderate supply. Feeder cattle supply included 48 percent steers and 63 percent of the offering was over 600 pounds. Medium and Large 1 feeder cattle weighing 600 to 649 pounds brought $190 to $214 and feeder steers from 650 to 699 brought $178.50 to $212. Medium and Large 1 feeder heifers weighing 502 to 549 brought $185 to $194.50 and feeder heifers from 604 to 642 brought $176.50 to $185.50.

Cash hogs are lower at midday. Processors have been slow in their procurement efforts.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market has been strong and that’s helping provide some price support.

Barrows and gilts at the National Daily Direct are down $1.85 at midday with a base range of $112 to $127 for a weighted average of $119.31. The Iowa Minnesota is $1.64 higher with a weighted average of $124.57; the Western Cornbelt is up $1.54 for a weighted average of $124.57; the Eastern Cornbelt isn’t reported due to confidentiality.

Pork values are higher, up $1.61 at $113.11. Bellies are sharply higher, up more than $15; picnics are also higher; loins, butts, and hams are lower; ribs are sharply lower, down more than $8.

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