Direct cash cattle trade activity is off to a quiet start.  Buyers and sellers are busy taking inventory and bids and asking prices will likely be slow to surface.  Significant trade volume isn’t expected to develop until around midweek.  Deals last week were at mostly $138, $2 lower than the prior week’s weighted averages.  Northern dressed business was at mostly $226, $3 lower than the previous week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.53 higher at $263.70 and Select was $2.16 higher at $245.18.  The Choice/Select spread is $18.52. 

In Missouri, compared to the previous week steers under 650 pounds were steady to $3 higher and steers over 650 pounds were steady to $2 lower. 

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