Midday cash livestock markets
A quiet end to the week for direct cash cattle trade after this week’s moderate business. Bids have been scare. Asking prices for cattle left on show lists are around $122 to $123 live in the South and $199 to $200 dressed in the North. Dressed deals in the North have had a full range of $195 to $202, mostly $197 to $198, steady to $1 higher than last week’s weighted average basis in Nebraska. Southern live deals have had a range of $117 to $122, mostly $121 to $122, generally $1 to $2 higher than last week’s weighted averages.
At the MO-KAN Livestock Market in Missouri, compared to the last reported sale two weeks ago steers under 650 pounds were steady. There were a few fancy lots of heavier 700 to 850 pounds yearlings which sold $7 to $10 higher. Heifers traded steady to $5 higher. The USDA says demand was good for a moderate supply and the buyers were active. Receipts were almost steady on the week and down on the year. Feeder supply included 51% steers and 46% of the offering was over 600 pounds. Medium and Large 1 feeder steers 553 to 599 pounds brought $176 to $183.50 and feeder steers 608 to 638 pounds brought $164 to $173. Medium and Large 1 feeder heifers 552 to 590 pounds brought $149.50 to $161.25 and feeder heifers 617 to 637 pounds brought $147 to $158.
Boxed beef is sharply higher at midday on good demand for light offerings. Choice is $3.15 higher at $195.73 and Select is $2.84 higher at $276.61. The Choice/Select spread is $19.12.
Cash hogs had no comparison with moderate negotiated purchases. 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 no comparison but a full range of $98 to $101 and a weighted average of $99.24. Prices at the Regional Direct Markets were not reported due to confidentiality.
Butcher hog markets at the Midwest cash markets are steady at $73.
Pork values are sharply higher at midday, up $5.60 at $128.72. Hams are up nearly $19. With picnics, loins, and ribs all sharply higher. Butts are higher and bellies are sharply lower.