market news
Daytime cash livestock market
Direct cash cow trading activity remains quiet. This week’s show list is mixed, with Nebraska/Colorado and Texas slightly higher, and Kansas higher. It is difficult to decide on a bid. In the south, the asking price is recorded at $188, but in the north it has not yet been established. More businesses are expected to open later in the week.
Boxed beef has mixed light to moderate demand for moderate products at midday. Choice rose $1.09 to $307.02 and Select fell $0.18 to $289.15. The Choice/Select spread is $17.87.
At Missouri’s Joplin Regional Cattle Farm, feeder steers under 500 pounds were priced $10 to $30 higher. Feeder steers over 500 pounds were $2 to $8 more. Heifers under 550 pounds gained $5 to $25, while heavier heifers held steady at a $5 decline. The USDA says supply is reasonable and demand is very good. Receipts decreased slightly on a weekly basis but increased on a yearly basis. The feeder supply contained 64% steers, and 74% of the offerings were over 600 pounds. Medium and large 1 feeder steers 707-748 pounds went from $250 to $271, and feeder geldings 850-892 pounds went from $225 to $237.50. Medium and large 1 feeder heifers from 601 to 645 pounds were $247 to $265, and feeder heifers from 762 to 776 pounds were $226.50 to $235.
It was a very lightly negotiated purchase and no wastage of cash was reported at midday. Processors were slow to ramp up operations this week and did not need to ramp up procurement efforts to move numbers. Strong global demand for U.S. pork is supporting prices. Long-term concerns about domestic demand persist, creating price uncertainty. The industry continues to monitor the availability of market-ready pigs and pig weights when gauging pork supplies. National Daily Direct’s 5-day moving average was $74.02.
Butcher hog prices in the Midwest cash market were steady at $60. In Illinois, slaughter sow prices were stable with demand for medium to heavy offerings ranging from $56 to $68. Barrow and Gilt were stable, with moderate demand for items priced between $45 and $55. Boar ranged from $20 to $30 and $15 to $25.
Pork prices were lower at midday, down $1.24 to $94.81. The abdomen, picnic, and lower back were all lowered rapidly. Butts, ribs, and hams were higher, and exponentially higher.
