Midday cash livestock markets – Brownfield Ag News
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Midday cash livestock markets
Direct cash cattle trade activity had a quiet start following the light business that took place on Tuesday. Bids have surfaced at $202 to $203 live and $320 dressed, both out of the North. Asking prices are at $204-plus live in the South, but still haven’t been established out of the North. Deals on Tuesday were marked at $203, $3 lower than the previous week’s weighted averages. Weather could be a factor in today’s business. So it could be Thursday or Friday before any more trade develops.
Boxed beef is lower at midday on light demand for moderate offerings. Choice is $1.52 lower at $320.94 and Select is $2.07 lower at $310.14. The Choice/Select spread is $10.80.
At the Kingsville Livestock Auction in Missouri, steers sold uneven, with most weight classes steady to $5 lower. There were a few large groups of grazing cattle that were stick out sales and brought higher dollars. Steers 650 to 750 pounds were $5 to $10 lower with spots of $15 lower. Heifers also sold uneven, calves were mostly steady to $5 higher while yearlings were mostly steady to $5 lower. The USDA says demand was good for a heavy supply and quality was mostly attractive. Receipts were up on the week, but down on the year. Feeder supply included 50% steers and 61% of the offering was over 600 pounds. Medium and Large 1 feeder steers 610 to 632 pounds brought $318 to $347.50 and feeder steers 653 to 697 pounds brought $285 to $309. Medium and Large 1 feeder heifers 668 to 695 pounds brought $273 to $289 and feeder heifers 723 to 734 pounds brought $256 to $267.
Cash hogs are higher at midday with solid negotiated purchases. Processors are starting the day more aggressive in their procurement efforts as more numbers are needed to keep up with the higher slaughter pace. Pork cutout values remain inconsistent, limiting the potential upside for cash hogs. Demand for U.S. pork on the global market has been strong, that’s helping provide price support. But long-term domestic demand uncertainties linger. Hog weights dropped down 0.7 pounds this week to 290 pounds, but that’s still 1.3 pounds above year-ago levels. Barrows and gilts at the National Daily Direct are $2.04 higher with a base range of $82 to $91.50 and a weighted average of $88.57; the Iowa/Minnesota is $2.18 higher with a weighted average of $89.67; the Western Corn Belt is $2.29 higher with a weighted average of $89.78. Prices at the Eastern Corn Belt were not reported due to confidentiality.
Butcher hog prices at the Midwest cash markets are steady at $62.
Pork values were lower at midday – down $.91 at $98.81. Loins, butts, and bellies were all lower. Hams, picnics, and ribs were higher.
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