market news
Daytime cash livestock market
Direct cash cow trading activity remains quiet until midday. No bids have surfaced. Asking prices are around $184 and up in the South, but things are still quiet in the North. The Packer investigation could start to get tougher today. However, if the business follows the trend of recent weeks, significant volumes will be postponed to later in the week.
Boxed beef has a mix of light to moderate demand for snacks at midday. Choice fell $2.59 to $298.29 and Select rose $1.31 to $292.65. The Choice/Select spread is $5.64.
At Callaway Livestock Center in Missouri, 400-500 pound steers were solid, up $7, 500-550 pound steers steady, 550-600 pound steers were $5-10 lower, 600-700 pounds. steers were $2 to $7 lower. . 400-450 pound heifers were solid, 450-500 pound heifers were steady at $5 lower, and 500-600 pound heifers were $5-8 lower. Supply was moderate to high and demand was moderate to good, the USDA said. The market for light calves under 550 pounds for turf, especially steers, was strong. Potloads of 8-weight steers are also available on the active market. The offering included a large number of new calves, which were weaned short and carried the meat in small groups or packs. The receipts were increasing week by week and year by year. The feeder supply contained 57% steers, and 44% of the offering was over 600 pounds. Medium and large 1 feeder steers 515-537 pounds went from $317 to $345 and feeder steers 850-891 pounds went from $231.75 to $241.25. Single medium and large feeder heifers 502 to 548 pounds were $273 to $291.50 and 651 pound feeder heifers were $251.25.
People who spend a lot of cash have nothing to compare with and can purchase with light negotiation. Demand will now be the key to the cash cow market. If processors need pigs, they need to make active procurement efforts and continue bidding. Global demand for U.S. pork is strong, and domestic demand is also booming. Both are good for the price. Marketable pig availability and pig weight are also monitored by the industry. National Dairy Direct’s stock and gilt’s basic range was $85 to $89.50, with a weighted average of $86.14. Local market prices were not reported for confidentiality reasons.
Butcher hog prices in the Midwest cash market held steady at $52. In Illinois, slaughter sow prices are stable with moderate demand at moderate prices between $47 and $59. Barrow and Gilt were stable with moderate demand for moderately priced items in the $51-$61 range. Boar ranged from $15 to $25 and $8 to $15.
Pork prices fell sharply by midday, down $4.44 to $99.16. Belize started the day down about $24. Picnic, ham and loin were low. His hips and ribs were high.
