Direct cash cattle trade remains quiet at midday as bids are elusive.  Asking prices are around $146 to $147 live in the South, while the North is still not established.  Significant trade volume will likely take place over the balance of the week.  Today’s Fed Cattle Exchange had an offering of 1,311 head of which zero sold.  None of the bids met the reserve prices of $145 to $146. 

Boxed beef is higher at midday on strong demand for moderate offerings.  Choice is $1.17 higher at $247.92 and Select is $1.46 higher at $214.31.  The Choice/Select spread is $33.61. 

At the Philip Livestock Auction in South Dakota, compared to last week feeder steers 400 to 500 pounds were steady to $4 higher, steers 500 to 650 pounds were $2 to $5 higher, and steers over 700 pounds were steady. 

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