Market News
Midday Cash Livestock Market
Direct cash cattle transactions had a quiet start to the week as usual. Bids and offers have yet to be released. A holiday shortened trading week could see transactions occur much earlier than normal, but for now it will be a wait and see. Slaughter transactions last week ranged from $310 to $317.50, with most at $312, $1 higher than the previous week on a weighted average basis in Nebraska. Live transactions in the South ranged from $188 to $194, with most at $190, roughly flat with the previous week’s transactions.
Boxed beef was up significantly at midday on strong demand for lighter items, with Choice up $3.56 to $329.88 and Select up $2.36 to $306.86. The Choice/Select spread was $23.02.
In Missouri last week, low calf shipments led to sales between $20.00 low and $20.00 high. Yearlings tested good and sold for $10.00 high. USDA says feeder cattle supply is low to fair. The yearling market is very strong with record prices. Received amounts were down for the week and year. Feeder cattle supply included 60% steers and 65% were 600 pounds or larger. Medium and large yearling feeder cattle 810-846 pounds were $237-268.50 and 850-891 pound feeder cattle were $249-271.50. Medium and large yearling feeder cattle 600-645 pounds were $235-291 and 702-749 pound feeder cattle were $237-280.
Cash hogs were not reported due to confidentiality. Reports of negotiated purchases were minimal. With trading shortened this week due to the holidays, the cash hog market may get busy early in the week as packers become more active in sourcing. However, that has not happened yet. Demand remains a positive sign for the industry as U.S. pork remains popular and competitive in the global market. The industry is also keeping an eye on marketable hog availability and hog weights, which appear to be trending toward a seasonal decline but are still well above prior year levels. The National Dairy Direct 5-day moving average is $88.47, $88.76 in Iowa/Minnesota, $88.59 in the Western Corn Belt and $85.92 in the Eastern Corn Belt.
Midwest cash market pork prices were down $6 to $60. In Illinois, slaughter sow prices were steady with moderate demand for moderate supplies, at $63 to $75. Barrow and gilt prices were steady with moderate demand for moderate supplies, at $52 to $62. Boars ranged from $18 to $28 and $8 to $15.
Pork prices were weak at midday, down $0.25 to $97.64. Pork belly, ribs and ham were down. Loin was about the same. Picnic and belly were up.
