Market News
Livestock futures close mixed Monday, cash hogs lower and cash cattle unestablished
At the Chicago Mercantile Exchange Monday, live cattle futures were lower and feeders were mostly higher, watching corn and waiting for the week’s widespread direct business. August live was down $1.75 at $120.25 and October was $.80 lower at $128.32. September feeders were down $.60 at $164.05 and October was up $.52 at $168.95.
Direct cash cattle trade was typically quiet Monday with both buyers and sellers busy taking inventory. Bids and asking prices were not established and significant trade volume will likely be delayed until Wednesday or later.
At National Stockyards in Oklahoma City Monday, 7,500 feeder cattle. Compared to last week, feeder steers and heifers unevenly steady. Steer calves 5.00 – 8.00 higher. Heifer calves unevenly steady. Demand moderate to good. Quality mostly average but flesh conditions in buyers favor with many in medium to thin flesh conditions. Weather continues hot and dry with very little rain in the forecast. That’s a factor in feeder cattle sales every day.
Medium and large frame #1 steers:
174 head weighing 654 to 695 pounds brought $155.00 to $170.50.
179 head weighing 800 to 840 pounds brought $150.00 to $158.75.
Medium and large frame #1 heifers:
382 head weighing 652 to 692 pounds brought $151.00 to $157.00.
Boxed beef closed lower Monday. Choice boxes were $2.56 lower at $342.78. Select boxes down $2.97 at $312.55.
Estimated cattle slaughter for Monday was estimated at 117,000 head, 1,000 more than a week ago, but 2,000 fewer than a year ago.
Lean hog futures were pressured by profit taking and the steady to lower cash during the session. October was down $.57 at $90.15 and December was $.32 lower at $82.72.
Cash hogs closed lower.
National Daily Direct barrows and gilts were $1.82 lower, from $88.00 to $96.00, with a weighted average of $90.72. Barrows and gilts in Iowa/Southern Minnesota closed at a weighted average of $94.63. Western Cornbelt hogs closed with a weighted average of $94.55.
Butcher hogs at Dorchester, Wisconsin, which had 435 head, and Garnavillo, Iowa, with 160 head, are both steady at $70.00. Sows and boars at those markets are also steady. Light sows are $65.00 to $68.00; heavy sows are $71.00 to $74.00. Boars are $25.00.
The pork carcass cutout closed sharply lower, down $6.87 at $109.72.
Estimated hog slaughter for Monday is 477,000 head, 40,000 more than last week, and 2,000 more than a year ago.
