At the Chicago Mercantile Exchange, live cattle closed higher and feeders were mostly higher ahead of widespread direct cash business. April live cattle closed $.32 higher at $119.35 and June live cattle closed $1.15 higher at $119.15. March feeder cattle closed $.75 higher at $135.35 and April feeder cattle closed $.65 higher at $139.67.
A quiet start to the week for direct cash cattle trade activity. Showlists are mixed — somewhat larger in Kansas and larger in Texas, but lower in Nebraska/Colorado. Bids and asking prices have yet to surface. Look for significant trade volume to be delayed until at least midweek or later.
At the Oklahoma National Stockyards, compared to last week feeder cattle and calves were mostly steady. Stocker cattle or cattle suitable for grass were selling $5 to $8 higher. The USDA says demand was good for all classes as several new buyers were in the stands. Quality was average to attractive with several coming off of wheat. Feeder supply included 62 percent steers and 66 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 550 to 596 pounds brought $153 to $169.50 and feeder steers 803 to 849 pounds brought $126.50 to $130.50. Medium and Large 1 feeder heifers 500 to 540 pounds brought $142 to $158 and feeder heifers 604 to 639 pounds brought $131 to $143.
Boxed beef closed mixed on light to moderate demand for fairly light offerings.
