At the Chicago Mercantile Exchange, live cattle were mixed ahead of the week’s direct cash business. Feeders were supported by corn’s move lower late in the day. February live cattle closed $.25 higher at $156.35 and April live cattle closed $.15 higher at $160.05. January feeder cattle closed $.57 higher at $184.22 and March feeder cattle closed $.42 higher at $189.07.
It was another quiet day for direct cash cattle business. Packer inquiry was limited. Early asking prices did surface in the South at $157 to $158 live, but the North remained quiet. Significant trade volume is expected to develop midweek or later.
At the Tri-State Livestock Auction in Nebraska, compared to last week steers were $7 to $11 higher and heifers were steady to $10 higher. The USDA says demand was good on a good selection offered. Receipts were up on the week and the year. Feeder supply included 51% steers and 54% of the offering was over 600 pounds. Medium and Large 1 feeder steers 606 to 641 pounds brought $196.50 to $209.50 and feeder steers 713 to 745 pounds brought $185 to $196. Medium and Large 1 feeder heifers 555 to 588 pounds brought $186 to $195 and feeder heifers 653 to 664 pounds brought $177 to $187.
Boxed beef closed lower on light demand for moderate offerings.
