Direct cash cattle trade activity is relatively quiet through midday.  More bids have started to surface at $103 live and $164 dressed.  Asking prices are $105 live in the South and $165 plus dressed North.  Packer inquiry is expected to improve as the day progresses.  There was a light to moderate trade that took place in the South on Wednesday with deals at mostly $103, which was $2 higher than last week’s weighted averages. 

Boxed beef is weak to lower at midday on light demand for moderate offerings.  Choice is $.35 lower at $215.03 and Select is $.91 lower at $203.60.  The Choice/Select spread is $11.43. 

At the Hub City Livestock Auction in South Dakota, compared to last week, the best test was on steers 800 to 1000 pounds and they were $2 to $5 higher with instances of up to $10 higher on 850 to 900 pounds.  The best test on heifers, 850 to 900 pounds were mostly steady.  The USDA says demand was good to very good for the large yearling offerings.  There were quite a few strings on offer, most of which were attractive.  There were also a few packages and loads of cattle in moderate to heavy flesh.  Receipts were up on the week and the year.

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