Market News
Wholesale pork and beef support midday livestock markets
The direct cash cattle trade is slow to start, but packer inquiry should start to improve as the day goes on. Asking prices are around $122 plus in the South, and $200 plus in the North.
Boxed beef is gaining. As of Wednesday morning, choice boxes were up $2.72 at $272.45, while selects were up another $1.57 at $255.51.
At the Philip, South Dakota, Livestock Auction Tuesday, there were about 3,700 head of feeder cattle. There is no recent market for comparison, but there was very good demand for several load lots and packages of steers and heifers. The market was very strong and active. Much of the supply was home raised, off grass, and very attractive, carrying light to moderate flesh. Most were six-weight and heavier feeder steers.
There was a load of medium and large frame number one evenly weighted steers averaging 724 pounds that brought $163.00 to $171.00.
351 head of 800 to 850-pound steers brought $152.25 to $162.50.
Medium and large frame number one heifers; 154 head averaging about 770 pounds brought $152.25 to $157.00. 408 head weighing about 850 to 900 pounds brought $144.50 to $151.50.
Cash hogs opened steady Wednesday.
On about 6,400 head total, national direct barrows and gilts sold at a weighted average of $103.93. Both Iowa/Minnesota and Western Cornbelt direct hogs sold at a weighted average of $106.61.
Butcher hogs at the Midwest terminals: Both Dorchester, Wisconsin, and Garnavillo, Iowa, were steady at $75.00. Sows at both locations were also steady at $75.00; boars at $25.00.
Illinois slaughter sows and boars traded firm on 1,350 head. Light sows brought $64.00 to $76.00, while heavy sows ranged from $64.00 to $80.00. Boars sold in a range of $10.00 to $50.00.
The midday pork carcass cutout value was up $1.69 at $125.18.
