At the Chicago Mercantile Exchange, Live and feeder cattle ended the day higher ahead of widespread direct cash business. There was also additional support from the higher boxed beef during the session.
It was a quiet start to the week for direct cash cattle trade activity. Showlists were are lower across all three major feeding areas. If business follows the trend of recent weeks, bids and asking prices will likely be slow to surface and significant trade volume will hold out until sometime Thursday or Friday.
At the Oklahoma National Stockyards, compared to last week, feeder steers steady to $3 lower. Feeder heifers mostly steady. Steer calves steady to $5 lower than last week’s sharply higher market. Heifer calves steady to $3 higher, most advance on 5 weights. The USDA says demand was good.