At the Chicago
Mercantile Exchange, live cattle ended the day mixed, mostly higher on spread
adjustments. Feeder cattle closed
higher, supported by the day’s lower move in corn. June live cattle closed $.87 higher at $94.17
and August live cattle closed $.27 lower at $96.07. August feeder cattle closed $.37 higher at
$133.25 and September feeder cattle closed $.32 higher at $134.50.
Another light round of direct cash cattle trade took place on Thursday. Live deals in the South were reported at $95 to $97, that’s steady to $2 lower than Wednesday’s business and up to $6 lower than last week’s weighted averages. Northern dressed business had a range of $152 to $155, steady to $1 lower than Wednesday’s business. This follows the light to moderate trade that took place on Wednesday.
At the Mitchell Livestock Auction in
South Dakota, compared to last week’s much lighter offering feeder steers and
heifers are steady to firm. The USDA
says demand is good to very good for the large offering of backgrounded
yearling steers and heifers. There were
many long strings of light to moderate fleshed yearlings offered in full loads
and multiple load lots. Receipts were up
on the year. Feeder supply included 40
percent steers and 95 percent of the offering was over 600 pounds.