Cattle futures end the week higher

At the Chicago Mercantile Exchange, live and feeder cattle were higher following the week’s direct cash business and ahead of Friday’s Cattle Inventory report. February live cattle closed $.12 higher at $204.60 and April lives closed $.80 higher at $202.30. March feeder cattle closed $2.52 higher at $275.72 and April feeder cattle closed $2.80 higher at $275.12.

There was a light direct cash cattle trade that took throughout the week. Live deals were marked at mostly $208, which is $6 to $7 higher than the previous week’s weighted averages. Dressed cattle in the North brought $330, which was steady to $2 higher than the previous week’s weighted average basis in Nebraska.

At the Ogallala Livestock Auction in Nebraska, steers were $1 to $15 higher. Steers 750 pounds were $8 lower. Heifers under 600 pounds were $7 to $18 lower and heifers over 600 pounds were $4 to $17 higher. The USDA says demand was moderate to good with active buyers both in-house and online. Receipts were down slightly on the week, but up on the year. Feeder supply included 71% steers and 51% of the offering was over 600 pounds. Medium and Large 1 feeder steers 602 to 649 pounds brought $335 to $353 and feeder steers 701 to 739 pounds brought $297 to $319. Medium and Large 1 feeder heifers 556 to 595 pounds brought $313.50 to $332 and feeder heifers 604 to 640 pounds brought $299 to $315.50.

In Nebraska last week, in the Central region, alfalfa, ground, brought $135. Alfalfa, good, large rounds brought $80 to $80 and $82.50. Prairie/Meadow Grass, premium, small squares brought $8 and good/premium large rounds brought $90. Fair/Good large rounds brought $60 to $65. In the East, Alfalfa, pellets, 17% dehydrated brought $290 to $360 and pellets 17% suncured brought $250 to $280. Alfalfa, premium, small squares brought $8. Alfalfa, good, large rounds brought $90 and $90 to $100. Brome grass, good, small squares brought $7.