At the Chicago Mercantile Exchange, live cattle were mostly higher, and feeders were higher waiting for direct cash business to develop. Boxed beef was sharply higher at midday and traders are looking to Friday’s Cattle on Feed numbers.
A light direct cash cattle trade took place in the North. Dressed deals were at $249, $1 higher than last week’s weighted averages basis in Nebraska. The South remains in a standoff. Asking prices were firm at $156 to $157 live in the South and $249-plus dressed in the North.