market news
Daytime cash livestock market
Light direct cash cow trading is developing. Nebraska is trading between $295 and $296 on Dressed, perfectly stable from Wednesday’s trading and $1 to $2 higher than last week’s weighted average. Suggested prices range from $185 to $186 raw in the South and upwards of $297 in the North. Further deals are likely to develop as the days go by. There was light trading late in the day on Wednesday at $295 for the northern outfit, $1 higher than the weighted average from the previous week.
Boxed beef has mixed light to moderate demand for solid products at midday. Choice was down $0.20 at $293.34 and Select was up $0.47 at $288.54. Choice/Select spread is $4.80.
At the Hub City Livestock Auction in South Dakota, steers weighing 800-849 pounds and 900-999 pounds were the best tests, selling $4 to $8 less. Best test results for heifers were 700-749 pounds and 800-849 pounds, $3 to $4 lower. In some cases, heifers weighing 800 to 849 pounds were up to $7 off. The Department of Agriculture said there was moderate to good demand for products featuring background cattle rows and home-raised cattle loads and packaging. This week there was a lot of meat overall. The quality varied, but most were average to appealing. The amount received decreased on a weekly basis, but increased on a yearly basis. The feeder supply contained 60% steers and 90% of the supply was over 600 pounds. Medium and Large 1 Feeder Steer 812-839 lbs is now $261.75, down from $245.50, and Feeder Steer 903-933 lbs is now $240.50, up from $232.25. Medium and Large 1 feeder heifers from 708 to 738 pounds were $253 to $268, and feeder heifers from 801 to 849 pounds were $230 to $236.25.
At noon, cash consumers fall on relatively light bargaining purchases. The cash trove market continues to trade very strongly this week, so it’s no surprise that packer moves are down. Especially after the recent large-scale runs needed to keep up with the increased pace of slaughter. Demand for U.S. pork in global markets remains strong, supported by another strong week in export sales. And with the summer grilling season just around the corner, domestic demand is also on the rise. Both are supporting prices. The industry continues to monitor production and the weight of hogs and hogs that can be shipped to market. National Dairy Direct stocks and gilts were down $1.63, with a base range of $88-93 and a weighted average of $89.43. Local market prices were not reported for confidentiality reasons.
Butcher hog prices in the Midwest cash market are holding steady at $50. In Illinois, slaughter sow prices were down $1, with demand for moderate supplies ranging from $38 to $50. Barrow and Gilt were stable with moderate demand for moderately priced products in the $51-$61 range. Boar ranged from $18 to $28 and $8 to $15.
Pork prices were higher at midday, up $1.66 to $99.65. Belize jumped nearly $20 to start the day. Picnics were also expensive. Ham, rump, and loin were either low or significantly low.
