US midday cash livestock markets

Published Jun 15, 2024

Tridge summary

The article provides an overview of the current state of the agricultural market, focusing on the direct cash cattle trade, boxed beef prices, and cash hogs. It highlights a quiet down in direct cash cattle trade activity since Thursday, with only a few renewed bids in Kansas and Nebraska at $186 live and $307 dressed, respectively. The asking prices for remaining livestock in the South and North are $187+ live and $308+ dressed, respectively.

Boxed beef prices have seen a significant increase, with Choice at $319.81, Select at $303.05, and a notable Choice/Select spread of $16.76. The livestock auction in South Dakota reported increased prices for yearling feeder steers and heifers, alongside a large offering of yearling steers and heifers, leading to a significant increase in receipts.

Cash hogs are also higher at midday, driven by processors being more aggressive in their procurement efforts, and global demand for US pork providing price support. However, the availability of ample pork due to heavier hog weights and a good supply of market-ready hogs keeps prices in check. Butcher hog prices at Midwest cash markets are steady at $60, while pork values are sharply higher at midday, increasing by $3.92 to $100.94, with all major cuts, including bellies, butts, loins, ribs, and ham, experiencing price increases, except for picnics which saw a decrease.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Direct cash cattle trade activity is quiet following the active day on Thursday. A few bids have been renewed in Kansas at $186 live and in Nebraska at $307 dressed. Asking prices for what’s left on showlists are around $187-plus live in the South and $308-plus dressed in the North. A little cleanup trade could take place before the end of the day, but the week’s business has likely wrapped up. Southern live deals were at mostly $186, $1 higher than the previous week’s weighted averages. Dressed deals in the North were at mostly $305 to $306, $4 to $5 higher than the prior week’s weighted average basis in Nebraska. Boxed beef is higher and sharply higher at midday on solid demand for moderate offerings. Choice is $1.50 higher at $319.81 and Select is $3.80 higher at $303.05. The Choice/Select spread is $16.76. At the Mitchell Livestock Auction in South Dakota, yearling feeder steers were $2 to $5 higher with instances of $8 to $10 higher. Yearling feeder heifers were $10 ...
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