It’s a typically quiet Monday for direct cash cattle business as both buyers and sellers are busy taking inventory. Bids and asking prices have yet to be established and may not surface until later in the week. If business follows the trend of recent weeks, it’s likely significant trade volume isn’t likely to develop until sometime Thursday or Friday. Last week’s business took place over the course of the week. Southern live deals were marked at $177 to mostly $179, roughly $1 lower than the previous week’s weighted averages. Northern dressed deals had a range of $290 to $298, mostly $294 to $295, steady to $1 lower than the prior week’s weighted average basis in Nebraska.
After the strength last week, boxed beef is lower at midday on light demand for light offerings. Choice is $.87 lower at $315.24 and Select is $2.46 at $285.90. The Choice/Select spread is $29.34.
