At the Chicago
Mercantile Exchange, live cattle futures closed with modest gains on short
covering and support from the higher cash trade. Feeder cattle futures were higher on the same
factors. August live cattle closed $.25
higher at $107.87 and October live cattle closed $.35 higher at $109.32. August feeder cattle closed $.27 higher at
$142.62 and September feeder cattle closed $.42 higher at $143.27.
A light dressed trade
developed in parts of the North today at $180 to $185. That’s steady to $5 higher than last week’s
weighted average basis in Nebraska.
Trade in the South remained undeveloped.
Asking prices for cattle remaining on showlists is $113 to $114 live and
$184-plus, dressed. Significant trade
volume is likely to develop throughout the day on Friday.
At the Bassett Livestock Auction in Nebraska, receipts were up the week and the year.