Tridge summary
The article provides an overview of the current state of the agricultural market, focusing on cattle and hog prices and market dynamics. It highlights a potential standstill in direct cash cattle trade due to a discrepancy between buyers' and sellers' expectations, with only a few deals reported at lower prices. In contrast, boxed beef prices are on the rise due to strong demand, with choice and select cuts increasing to $279.53 and $263.29 respectively. The USDA's report on the quality and quantity of cattle offerings, which was larger than the previous week, but lower on a year-to-year basis. The hog market is experiencing a solid week in export sales, with Mexico and Japan leading the way, despite a slight drop in hog weights and a slowdown in slaughter pace. Butcher hog prices at Midwest cash markets are down $2 at $58, while pork values, including bellies, hams, picnics, butts, and loins, are higher.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Direct cash cattle trade is quiet. A few bids have surfaced $160 live in the South and $256 dressed in the North. Those are well below the current asking prices of $163-plus live in the South and $260 dressed in the North. It looks like buyers and sellers could be headed for a standoff delaying any significant business until sometime on Friday. There were a handful of deals reported in the North on Wednesday at $254, fully steady with last week’s business. Boxed beef is sharply higher at midday on strong demand for light offerings. Choice is $3.86 higher at $279.53 and Select is $2.10 higher at $263.29. The Choice/Select spread is $16.24. At the Hub City Livestock market in South Dakota, steers 500 to 650 pounds and steers 651 to 800 pounds were $3 to $5 higher. Steers 801 to 900 pounds were mostly steady. Heifers 550 to 650 pounds were mostly steady and heifers 651 to 750 pounds were $2 to $5 higher. The USDA says it was another large offering this week that featured ...
Source: Brownfield Ag
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