Cattle markets at noon
After the past two days of light to moderate business, direct cash cattle trading is quiet midday. The asking prices for cattle still on the show lists are around $140 live in the South and up to $225 in the North. It’s likely that most of the week’s trading is done, but a small clean-up trade before the end of the day wouldn’t come as a surprise. For the week, live trading in the south was mostly $138 live, perfectly stable with most of the previous week’s trading. Nordic deals have had a wide range – from $219 to $228, mostly $222 to $225, which is about $1 to $4 higher than the Nebraska weighted average for the previous week.
Boxed beef mixed into moderate offerings at midday with light to moderate demand. Choice is down $0.96 at $267.43 and Select is up $0.71 at $263.05. The choice/select spread is $4.38.
There was a lower undertone in steers up to 700 pounds at the Mitchell Livestock Auction in South Dakota compared to last week. Steers 750 to 850 pounds were unevenly stable, steers 850 pounds and over were $2 to $4 higher. A deeper undertone was also noted in heifers up to 700 pounds. Heifers 700 to 800 pounds were $5 to $8 lower, and heifers 800 pounds and over were consistently up to $4 higher. According to the USDA, demand has been good. There were many large loads in the offer of the day. Earnings went back to the week and year. The forage supply consisted of 54% steers and 94% of the supply weighed over 600 pounds. Medium and large 1 feeder steers 851-878 pounds brought $147.25 to $155.25 and feeder steers 972-999 pounds brought $142.25 to $149.25. Medium and Large 1 feeder heifers from 701 to 748 pounds fetched $144 to $154.50, and feeder heifers from 759 to 799 pounds fetched $137 to $147.75.
Cash hog prices had no comparison but with moderate negotiated purchases. Processors moved their desired numbers at lower prices this week and have not had to get aggressive in their sourcing efforts. The industry continues to monitor the availability of market-ready pigs. And while strong demand, both global and domestic, has helped support prices, there are ongoing long-term concerns that are increasing pressure on prices. Barrows and gilts at National Daily Direct have a base range of $98 to $107 with a weighted average of $100.53; Iowa/Minnesota and the Western Corn Belt both had a weighted average of $105.06. Prices on the Eastern Corn Belt were not reported at midday for confidentiality reasons.
Butcher hog prices in Midwest cash markets were steady at $80. In Illinois, slaughter sow prices remained stable with moderate demand for medium to heavy offerings of $78-$89. Barrows and gilts held steady at $66-$73 on moderate demand for moderate supply. Boars ranged from $40 to $45 and $20 to $25.
Pork prices are lower at midday – down $1.62 to $106.10. Bellies fell nearly $21 at midday. Loins were also lower. Ribs, picnics, hams and butts higher to significantly higher.
https://brownfieldagnews.com/market-news/midday-cash-livestock-markets-1771/ Cattle Markets at Noon – Brownfield Ag News