At the Chicago Mercantile Exchange, live cattle were mostly higher, and feeders were mixed watching direct business develop. December live cattle closed $.37 higher at $186.02, and February lives closed $.07 higher at $190.37. November feeder cattle closed $.07 higher at $250.42 and January feeders closed $.22 lower at $254.05.
There was another round of light trade reported on Wednesday. Dressed deals in the North were marked at $288 to $291, mostly $290, steady to $1 higher than the previous week’s weighted average basis. Southern live deals were marked at mostly $182, fully steady with Tuesday business but $1 lower than the prior week’s weighted averages.
At the Callaway Livestock Center in Missouri, there was a light offering of 4-weight steers that were steady. A much lighter offering of 500-to-600-pound steers was steady to $5 lower. Steers over 650 pounds were not well tested, but several pot loads of top-quality yearlings 787 to 903 pounds sold with a firm undertone. Feeder heifers were on a light test with heifers under 550 pounds selling weak to lower. A nice offering of heifers 550 to 600 pounds sold with a firm to higher undertone. The calf offering was much lighter this week and was not as attractive as previous weeks. Demand was good for yearling steers and heifers weighing 550 to 600 pounds that were long-weaned. All sold on an active market. Receipts were up on the week and down on the year. Feeder supply included 51% steers and 52% of the offering was over 600 pounds. Medium and Large 1 feeder steers 780 to 787 pounds brought $255 to $258.75 and feeder steers 906 pounds brought $247.10. Medium and Large 1 feeder heifers 572 to 588 pounds brought $276 to $280.50 and feeder heifers 803 pounds brought $240.50.
Boxed beef closed lower on light demand for heavy offerings. Choice is $3.31 lower at $296.76 and Select closed $.72 lower at $274.87. The Choice/Select spread is $21.89. Estimated cattle slaughter was 125,000 head, down 1,000 on the week and down 3,000 on the year.
