At the Chicago Mercantile Exchange, cattle futures closed firm supported by wholesale values at midday and anticipated strength in the developing cash trade. Feeder cattle futures were oversold and due for a bounce. February live cattle closed $.42 higher at $125.55 and April live cattle closed $.42 higher at $126.50. January feeder cattle closed $1.97 higher at $143.02 and March feeder cattle closed $2.15 higher at $143.65.
Direct cash cattle
trade improved some, but activity was still limited. There were just a handful of deals reported
in Texas at $123 live. And the 63 sales were
from Wednesday’s Fed Cattle Exchange.
Asking prices are holding firm at $126 live and $200 dressed. Bids are at $122 live and $196 dressed. The distance between the two could push significant
trade volume until the end of the week.
At the Kingsville
Livestock Auction in Missouri, receipts are up on the week and down on the
year. Compared to the most recent sale
steers and heifers were unevenly steady except for heifer calves under 500
pounds which sold with a noticeably lower undertone. A quality run of feeders was on offer and
allowed buyers to put together several loads of the same type and kind. The USDA says demand was mostly moderate despite
poor weather conditions, good in spots, but light for heifer calves under 500
pounds. Feeder supply included 57
percent steers and 62 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 635
pounds brought $150 to $163.25 and feeder steers 802 to 825 pounds brought $138.25
to $145.35. Medium and Large 1 feeder
heifers 551 to 594 pounds brought $125 to $132.25 and feeder heifers $121.25 to
$128.35.
Continue reading Cattle futures higher ahead of cash trade at Brownfield Ag News.
