Direct cash cattle trade activity remains quiet. Bids have yet to surface. Asking prices are at $161 to $162 live in the South, while not established in the North. While packer inquiry is expected to improve as the day progresses, it is quite possible significant trade volume will be delayed until sometime Thursday or Friday. Today’s Fed Cattle Exchange had an offering of 7 lots or 1,219 head. One lot sold in Texas at $159, the rest did not meet reserve prices of $155 to $161.50.
