Direct cash cattle trade is finally underway.  Live deals were at $130, $4 to $5 higher than last week’s weighted averages.  Dressed deals in the North were at $204, $4 higher than last week’s weighted average basis in Nebraska.  Some of those deals are marked for delayed delivery.  Look for more business to pick up over the course of the day. 

Boxed beef was higher at midday with strong demand on light offerings.  Choice is $.25 higher at $290.47 and Select is $.73 higher at $268.95.  The Choice/Select spread is $21.52. 

At the Mitchell Livestock Auction in South Dakota compared to last week steers 900 to 1000 pounds were $5 to $10 higher, with many load lots in the yearlings.  This week’s offering also had a large number of spring calves.  Heifers 850 to 1000 pounds were steady to $3 higher and demand was good.  Receipts were down slightly on the week and up significantly on the year.  Feeder supply included 49% steers and 66% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 592 pounds brought $156 to $169.75 and feeder steers 959 to 969 pounds brought $154 to $164.  Medium and Large 1 feeder heifers 602 to 637 pounds brought $140 to $154.50 and feeder heifers 800 to 825 pounds brought $147.25 to $154.25. 

Cash hogs are lower at midday with moderate negotiated purchases. 

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