Market Update: Midday Livestock Market Trends
The midday cash livestock markets are currently experiencing a period of quiet trading activity. Bids and asking prices have not yet been established, with showlists showing a mix of higher numbers in Texas and lower numbers in Kansas, Nebraska, and Colorado. It is anticipated that significant trade volume will be delayed until later in the week, possibly Thursday or Friday.
Boxed beef prices have risen at midday, driven by solid demand for quality offerings. Choice beef is up $1.79 to $319.21, while Select beef has increased by $.46 to $301.50. The Choice/Select spread now stands at $17.71.
Feeder steers at the Joplin Regional Stockyards in Missouri weighing under 750 pounds are holding steady, with heavier weights seeing an increase of up to $3. Feeder heifers, on the other hand, are trading $6 lower to $2 higher. The USDA reports heavy supply with good demand, with a majority of the offerings consisting of steers over 600 pounds. Receipts are down compared to the previous week and year.
At the Midwest cash markets, butcher hog prices remain steady at $60, while slaughter sow prices in Illinois are also holding firm. Barrows and gilts are seeing steady prices with moderate demand, ranging from $52 to $62. Pork values have seen a sharp increase at midday, with bellies experiencing a significant jump and loins and ribs also showing strong gains. However, hams, picnics, and butts are trading lower.
Subheadings:
– What is the current trend in the midday cash livestock markets?
– How are boxed beef prices performing at midday?
– What are the latest updates from the Joplin Regional Stockyards in Missouri?
– What is the pricing trend for butcher hogs at Midwest cash markets?
– How are pork values fluctuating in the midday market?
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