Market News
Midday Cash Livestock Market
Cash beef trading regions saw activity pick up a bit as of midday, with prices in the South trading at $190/kg, exactly the same as last week’s weighted average. Some asking prices were steady around $192/kg in Kansas and Texas, and $315/kg in Nebraska and Iowa. Packer inquiries should continue to improve as the day progresses.
Beef cutouts were up midday with slight to moderate box movement. Choice rose $1.02 to $330.86 and Select rose $1.62 to $306. The Choice/Select spread was $24.86.
At Joplin Area Farms in Missouri, feeder steers sold at the same price to $4 higher than the most recent sale price, and feeder heifers sold at $10 lower to $4 higher. According to the USDA, weaned, vaccinated cattle are in much higher demand than virgin cattle. Supply was moderate and demand was very high. Feeder cattle supply consisted of 62% steers, and 71% of the cattle sold were 600 pounds or more. Medium and large 1 feeder steers 550-599 pounds sold for $295-312, and feeder steers 913-932 pounds sold for $237.25-252.50. Medium and large 1 feeder heifers 551-599 pounds sold for $269-290, and feeder heifers 752-797 pounds sold for $234-243.
Cash hogs were mixed with light initial bids in the main direct markets. A quiet end to a less active week is likely. This could lead to stronger short buying demand next week, but that will also depend on retail stocks over the long holiday weekend. Pork export sales of 59,100 tonnes were a record for the year, primarily to Mexico, China and Japan.
National Dairy Direct bulls and cows were down $0.72 with base prices ranging from $83 to $93 and a weighted average of $89.48. Iowa/Minnesota was down $2.16 with a weighted average of $88.95. The Western Corn Belt was up $0.19 with a weighted average of $91.30. The Eastern Corn Belt was not reported due to confidentiality.
Midwestern cash pork markets were closed Friday for the holiday. In Illinois trading Wednesday, slaughter sow prices were down $3 to $58 to $70, barrows and gilts were flat at $52 to $62 and boars were $8 to $28.
Pork prices were up as of midday, up $3.22 to $96.85. Belly and pork belly prices were up significantly. Ham, picnic and loin prices were up. Ribs were down slightly.
