At the CME, live cattle closed higher and feeders were mostly higher ahead of the week’s direct cash business and Friday’s On Feed numbers. December live cattle closed $.50 higher at $132.22 and February live cattle closed $.30 higher at $136.40. November feeder cattle closed $.42 higher at $156.07 and January feeder cattle closed $.35 lower at $158.92.
It was a slow Wednesday for direct cash cattle trade activity. A few bids surfaced in parts of Nebraska at $132 live and $207 dressed and $130 live in Iowa. Asking prices were at $134 plus live in the South, but not fully established out of the North. Packer inquiry is expected to improve over the balance of the week.
At the Kingsville Livestock Auction in Missouri, compared to last week steers were steady to $4 higher and heifers were mostly steady. The USDA says demand was good as market fundamentals look solid and supply was moderate. There were still several green yearlings in the offering. Receipts were down on the week and the year. Feeder supply included 84% steers and 58% of the offering was over 600 pounds. Medium and Large 1 feeder steers 550 to 597 pounds brought $161 to $175 and feeder steers 653 to 690 pounds brought $156.25 to $169.25. Medium and Large 1 feeder heifers 572 to 578 pounds brought $144 to $159 and feeder heifers 711 to 738 pounds brought $145.85 to $157.25.
