There was a light to moderate direct cash cattle trade that took place on Wednesday. Business got underway earlier than normal, especially with Cattle on Feed numbers coming out on Friday. Live deals in the South were at mostly $164, $2 lower than last week’s weighted averages. Northern dressed business was marked at mostly $264, also about $1 lower than the prior week’s weighted average basis in Nebraska. It’s possible the bulk of the week’s business is done for the week, but some additional trade could take place before the end of the day Friday.
Boxed beef is higher with Choice $1.01 higher at $285.28. Select is $.10 higher at $272.73. The Choice/Select Spread is $12.55.