At the Chicago Mercantile Exchange, live and feeder cattle were higher ahead of the bulk of the week’s cash business. October live cattle closed $.77 higher at $180.82 and December lives closed $.52 higher at $184.80. September feeders closed $.65 higher at $253.27 and October feeders closed $.80 higher at $256.02.
There was a light direct cash cattle business that took place on Thursday. Live deals in the South were at $179, mostly steady with the previous week’s business. However, dressed deals in the North were about $3 below the prior week’s weighted average basis in Nebraska at mostly $290, with a few marked at $293. Look for more business to develop before the end of the day Friday.
At the Farmington Regional Stockyards in Missouri, steers and heifers were anywhere from $4 to $10 higher. The USDA says demand was good and supply was moderate. Receipts were up from the previous week and down on the year. Feeder supply included 46% steers and 28% of the offering was over 600 pounds. Medium and Large 1 feeder steers 455 to 497 pounds brought $280 to $300 and feeder steers 622 to 631 pounds brought $285 to $289. Medium and Large 1 feeder heifers 561 to 596 pounds brought $269 to $271 and feeder heifers 750 to 782 pounds brought $217 to $233.
Boxed beef closed lower on light demand for moderate offerings.