Market News
Midday Cash Livestock Market
Direct cash cattle transactions are still slow going today. Bidding remains sluggish, with asking prices of around $192-$194 for live cattle in the south and around $315 for slaughter in the north. Packer enquiries are likely to increase as the day progresses, but a significant increase in volumes may be delayed until Friday.
Boxed beef was flat to firm as of midday on moderate demand for moderate product. Choice up $0.35 to $323.20 and Select up $0.04 to $302.90. Choice/Select spread was $20.30.
At Nebraska’s Huss Livestock Market, volume was lighter than two weeks ago. Steers 800-850 pounds were up $6, and heifers 800-850 pounds were up $4. Demand from crowd buyers was moderate to good, according to the USDA. Sales were significantly down for the week and the year. Feedstock supply included 42% steers, with 96% over 600 pounds. Medium and large 1 feedstock cattle 772-790 pounds were $271-277, and 909 pound feedstock cattle were $256.25. Medium and large 1 feedstock cattle 701-722 pounds were $256-265, and 808-843 pound feedstock cattle were $238-246.
Cash hogs were up midday with moderate negotiated purchases. There were a few days of solid trading early in the week, followed by less active trading on Wednesday afternoon as packers backed off sourcing. World market demand for U.S. pork is solid and some price declines point to a larger increase. But the reality is there is plenty of pork. The supply of marketable hogs is adequate and hog weights are still comfortably above last year’s levels. National Dairy Direct boars and sows were up $0.85 in the base range of $82-$93.50 with a weighted average of $89.59, while the Eastern Corn Belt had no comparable and a weighted average of $85.92. Iowa/Minnesota and Western Corn Belt prices were not reported due to confidentiality.
In the Midwest cash market, slaughter hog prices were steady at $66. In Illinois, slaughter sow prices were steady with moderate demand for medium to large offerings at $61 to $73. Castrated hogs and sows were steady with moderate demand for medium offerings at $52 to $62. Boars were $18 to $28 and $8 to $15.
Pork prices were down as of midday, down $2.37 to $93.15. Ribs and belly were both down significantly. Pork belly, loin and picnic were down. Ham was up.
