At the Chicago Mercantile Exchange, live cattle were mostly lower and feeder cattle were mostly higher ahead of Friday’s Cattle on Feed numbers. October live cattle closed $.47 lower at $103.65 and December live cattle closed $.87 lower at $104.57. October feeder cattle closed $.10 lower at $134.40 and November feeder cattle closed $.37 higher at $131.15.
Another round of light, scattered direct cash cattle trade reported in the North on Wednesday. Deals in Eastern Nebraska were marked at mostly $164, $3 lower than the rest of the week’s dressed business and about $5 lower than last week’s weighted average basis in Nebraska. The South was relatively quiet on Wednesday. So far this week, live deals have ranged from $105 to mostly $106, $2 lower than last week’s weighted averages. Dressed business on Monday and Tuesday ranged from $165 to mostly $166, $2.50 to $3.50 under last week’s weighted average basis in Nebraska.
At the Kingsville Livestock Auction in Missouri, compared to last week, steers and heifers under 700 pounds were $3 to $8 lower with the exception of a few heifer calves under 500 pounds which were steady.
