Direct cash cattle trade is underway.  Live deals are at $138 in the South and $140 in the North, steady to slightly higher than last week’s business.  Dressed business is at $220, steady to $1 lower than last week’s weighted average basis in Nebraska.  Asking prices are firm at $140 live in the South and $222 plus dressed in the North.  Look for more business to develop over the balance of the week.  Today’s Fed Cattle Exchange had an offering of 2,059 head, of which just 239 head sold at $138. 

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