Direct cash cattle trade activity is off to a quiet start.  Buyers and sellers are busy taking inventory.  It’s expected bids and asking prices will be slow to surface and significant trade volume will be delayed until midweek or later.  Deals last week were at mostly $138 live in the South, steady with the previous week’s weighted averages.  Dressed deals were mostly $221, steady/weak with the prior week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.02 higher at $263.66 and Select is $1.50 higher at $253.64.  The Choice/Select spread is $10.02. 

At the Missouri Livestock Auctions last week, feeder steers and heifer calves were mostly steady with some spots of up to $5 higher on some lighter weight calves. 

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