Direct cash cattle trade is off to its typically quiet start.  Buyers and sellers are busy taking inventory and sorting through showlists.  Bids and asking prices have yet to be established and significant trade volume will likely be delayed until midweek or later.  Last week, dressed deals in the North ranged from $248 to $255, mostly at $252 to $254, $3 to $5 higher than the prior week’s weighted average basis in Nebraska.  Southern live deals were at $157, $1 higher than the previous week’s weighted averages. 

Boxed beef is sharply higher at midday on strong demand for light offerings.  Choice is $4.88 higher at $286.86 and Select is $4.08 higher at $255.01.  The Choice/Select spread is $31.85. 

At the Joplin Regional Stockyards in Missouri, compared to the sale 2 weeks ago, feeder steers were $4 to $7 higher.  Feeder heifers were $6 to $11 higher.  The USDA says supply was heavy and demand was good.

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