At the Chicago Mercantile Exchange, live and feeder cattle ended the day higher, supported by stronger cash trade. Feeders had additional support from the day’s mostly lower move in corn. June live cattle closed $1.07 higher at $122.30 and August live cattle closed $1.02 higher at $124.92. August feeder cattle closed $.87 higher at $157.70 and September feeder cattle closed $1.15 higher at $159.80.
Another day of solid direct cash cattle trade took place on Wednesday. Deals in Kansas, Texas, Nebraska, and Iowa were all fully steady with Tuesday’s business. Live deals in the South were marked at $122 live, deals in Iowa were at $193 to $195 dressed, and in Nebraska trade was marked at $195 dressed and $124 live. Southern live deals this week have had a full range of $120 to $123, mostly $122, $2 higher than last week’s weighted averages and dressed deals in the North have ranged from $193 to $197, mostly $195, $4 higher than last week’s weighted average basis in Nebraska. The Fed Cattle Exchange had an offering of 6,049 head with 889 head sold at $119.25 to $122.50.
At the Interstate Regional Stockyards in Missouri, compared to last week feeder steers under 700 pounds were steady to $2 higher and steers over 700 pounds were $2 to $4 higher.
