Direct cash cattle trade activity is improving. Bids have surfaced at $157 live and $251 dressed in Nebraska. Asking prices are around $158 to $159 live in the South, while still not established out of the North. Significant trade volume will likely be delayed until sometime Thursday or Friday. Today’s Fed Cattle Exchange had an offering of 893 head, none of which sold as bids didn’t meet reserve prices of $148 and $158 live.
Boxed beef is mixed at midday on light to moderate demand for moderate offerings. Choice is $1.17 lower at $283.36 and Select is $.18 higher at $258.51. The Choice/Select spread is $24.86.
At the Philip Livestock Auction in South Dakota there was very good demand for the nice offering of long strings and full loads of high-quality feeder steers and heifers.
