At the Chicago Mercantile Exchange, live cattle were higher and feeders were mostly higher watching corn and getting ready for the week’s direct business. December live cattle closed $.90 higher at $134.42 and February live cattle closed $1.27 higher at $138.97. January feeder cattle closed $.77 higher at $161.70 and March feeder cattle closed $.72 higher at $164.10.
It was a quiet Monday for direct cash cattle trade activity. Early asking prices were at $136+ live in the South, while the North was quiet. Bids have yet to surface. If this week follows recent trends, look for business to be stronger and at higher prices. Showlists are lighter in Nebraska/Colorado and steady to somewhat lighter in Texas and Kansas.
At the Midsession, at the Oklahoma National Stockyards, compared to last week, feeder steers were steady to $2 higher. Feeder heifers were steady to $4 higher. Steer calves were $2 to $6 higher. Heifer calves were $4 to $10 higher. The USDA says demand was moderate to good for feeder cattle.
