Direct cash cattle trade activity is improving.  Bids have surfaced at $163 to $164 live and $263 dressed.  Asking prices are at $265 dressed in the North and $165 live in the South.  There could be some business that takes place yet today, but significant trade volume will more than likely hold out until sometime Thursday or Friday.  Today’s Fed Cattle Exchange had an offering of 972 head (7 lots in total).  One lot of heifers in Texas sold at $163, the rest did not meet reserve prices at $163 to $165. 

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