A light round of direct cash cattle trade is underway following the active trade on Wednesday. Live deals in Nebraska and Colorado are at $116, that’s $1 higher than Wednesday’s business and $2 higher than last week’s weighted average basis. Asking prices for cattle left on showlists are around $116 to $117 live in the South and $186 plus dressed in the North. There are a few bids at $185 dressed in Nebraska. There was an active trade that took place on Wednesday with Southern live deals at mostly $115, $1 higher than last week’s averages. Northern dressed business was mostly $184 to $185, $3 to $4 higher than the prior week’s weighted averages basis in Nebraska. The bulk of the week’s business is likely completed, but there could be some clean-up trade trickle in over the next couple of days. There was a special Fed Cattle Exchange auction that took place today with a total of 1,045 head offered and zero head sold as bids did not meet the reserve prices that ranged from $115 to $116.
Boxed beef is higher to sharply higher at midday on good demand for light offerings. Choice is $1.32 higher at $236.16 and Select is $2.64 higher at $226.71. The Choice/Select spread is $9.45.
At the Huss Livestock Market in Nebraska, compared to two weeks ago, steers were steady to $4 higher and heifers were steady to $2 higher.
