Market news
Livestock markets available at noon
The direct cattle trade got off to a generally quiet start. All major feeding areas are listed below. Bids have yet to come in, and some early prices for the South were hovering around $144. There is silence in the north. Look for cases to pick up during the week. The main trading volume of the last week falls on Tuesday and Wednesday. The full range of midday trades was between $136 and $142, with most trades at $141, down $1 from the previous week. Northern apparel had a range of $226 to $234, mostly $228 to $230, about $3 to $5 below the previous week’s weighted average base in Nebraska.
Boxed beef is higher at midday due to strong demand for light offerings. Choice is up $0.98 to $260.40 and Select is up $3.23 to $241.81. The Choice/Select spread is $18.59.
At the tri-state cattle auction in Nebraska, the supply was lower compared to last week’s heavy deliveries. Light steers weighing 400 to 550 pounds were consistently $5 lower and light weight heifers were $3 to $5 lower. There were not enough pets for an accurate price trend. This was a special holiday sale because the region is still experiencing extreme drought. The pastures are very dry and the grass is short and many calves are still pulling forward. Receipts are down significantly for the week. The feeder supply consisted of 50% steers and 28% of the offering was over 600 lbs. Medium and large 1 feeders from 457 to 492 pounds made $217 to $232, and feeders from 500 to 538 pounds made $206.50 to $217. Medium and large 1 heifers weighing 408 to 425 pounds made $202 to $211 and feeder heifers 853 pounds made $159.50.
Cash hog markets at midday were mixed with large contract morning purchases. Cash hog markets turned last week after weeks of packers being aggressive in their buying efforts and bidding to boost numbers took a break last week. Prices were lower, procurement numbers smaller. Global and domestic demand for U.S. pork has been strong, but long-term demand issues continue to mount, adding to price pressures. And all eyes remain on the availability of market-ready pigs. Mounds and gilts at National Daily Direct were $0.70 lower with a base range of $92 to $120 at a weighted average of $95.96, Iowa/Minnesota was no comparison but a weighted average of $108.87; the western Corn Belt was higher by $3.81 at a weighted average of $107.73. Prices in the Eastern Corn Belt are not reported due to confidentiality.
Beef hog prices in the Midwest cash market are steady at $70. In Illinois, slaughter sow prices were steady with moderate demand at a moderate supply of $62 to $74. Barrows and hogs were steady with moderate demand for moderate offerings from $73 to $82. Boars were $40 to $42 and $10 to $20.
The price of pork is sharply higher at noon – by 3.78 dollars to 106.03 dollars. Bellys bounced a bit this week and were up nearly $21 at midday. Loins, buttocks, ribs and picnics are all higher. Hams below.
