Direct cash cattle trade is quiet. Bids and asking prices have been hard to find on this Friday. There was scattered and minimal trade that took place on Thursday. Live deals in Kansas were $104, $1 lower than the bulk of this week’s business and $2 lower than last week. Dressed deals in Nebraska and Iowa ranged from $165 to $168, also below last week’s weighted average basis.
Boxed beef is firm to higher at midday on good demand for light offerings. Choice is $.32 higher at $231.88 and Select is $1.45 higher at $215.71. The Choice/Select spread is $16.17.
In South Dakota this week, compared to last week feeder steers and heifers were steady to $2 lower. The USDA says demand was good. There was a lighter offering of yearling steers and heifers. Feeders backed off a little this week as futures contracts have been under some pressure. Receipts were down on the week and the year. Feeder supply included 54 percent steers and 96 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 900 to 945 pounds brought $129 to $147.25 and feeder steers 951 to 995 pounds brought $131.25 to $141.75. Medium and Large 1 feeder heifers 700 to 749 pounds brought $139 to $151.25 and feeder heifers 850 to 895 pounds brought $125 to $137.50.
Cash hogs opened firm to higher with moderate negotiated numbers. Packers have been more aggressive in their procurement efforts today, and prices have reflected that. Overall, though, heavy supplies are putting pressure on the price picture. Demand has been relatively strong, at least domestically. But if prices are going to turn around and push higher on a consistent basis, more certainty in both global and domestic demand are needed.
Barrows and gilts at the National Daily Direct are $.41 higher with a base range of $38 to $43.37 for a weighted average of $43.06; the Iowa/Minnesota is $1.27 higher for a weighted average of $42.79; the Western Corn Belt is $1.15 higher for a weighted average of $42.79.
Butcher hog prices at the Midwest cash markets are steady today at $27.
At Illinois, slaughter sow prices were steady with good demand for moderate offerings at $11 to $23. Barrow and gilt prices were $1 higher, with good demand for moderate to heavy offerings at $22 to $27. Boars ranged from $1 to $3.
Pork values are weak at midday – down $.24 at $72.54. Hams and loins are sharply lower. Butts are weak. However, picnics are $11 higher at midday, bellies are nearly $5 higher, and ribs are nearly $3 higher.
