Direct cash cattle trade activity is quiet through midday. Asking prices are at $115 plus live in the South, however, the North remains quiet. Bids have yet to surface. Packer inquiry could pick up as the day progresses, but it’s like significant trade volume will be delayed until midweek or later. Today’s Fed Cattle Exchange had an offering of 1,362 head with 699 head sold between $113.50 to $115.
Boxed beef is lower to sharply lower at midday on light demand for moderate offerings. Choice is $1.34 lower at $235.42 and Select is $.98 lower at $224.06. The Choice/Select spread is $11.36.
At the Philip Livestock Auction in South Dakota, compared to last week, feeder steers 450 to 600 pounds were steady to $2 lower, 600 to 650 pounds were steady to $2 higher, and 650 to 750-pound steers were steady.
