At the Chicago Mercantile Exchange, live cattle were mostly higher, and feeders were lower watching direct business develop, feeders had additional pressure by the higher move in corn. April live cattle closed $.12 higher at $139.47, and June live cattle closed $.40 higher at $135.92. April feeder cattle closed $1.52 lower at $161.10 and May feeder cattle closed $1.40 lower at $165.87.
It was an active day for direct cash cattle trade. Live deals were at $138, full steady with last week’s weighted averages. Dressed deals had a full range of $221 to $224, $1 to $4 higher than last week’s weighted average basis in Nebraska. Look for some additional business to develop before the end of the day Friday.
At the Winter Livestock Auction in Kansas, compared to last week feeder steers 600 to 975 pounds were $3 to $4 higher. Steer calves 400 to 600 pounds were unevenly steady. Heifers 400 to 950 pounds were steady to $2 higher. About 200 head of fancy heifers 500 to 600 pounds were $10 higher. The USDA says demand was good. Receipts were up on the week. Feeder supply included 53% steers and 74% of the offering was over 600 pounds. Medium and Large 1 feeder steers 762 to 797 pounds brought $157 to $158 and feeder steers 800 to 848 pounds brought $150.25 to $157.25.
