Cattle futures higher ahead of direct business

At the Chicago Mercantile Exchange, live and feeder cattle were higher, waiting for the week’s direct business to develop. April lives closed $1.67 higher at $189.92 and June lives closed $2.10 higher at $186.05. April feeders closed $1.72 higher at $255.85 and May feeders closed $1.90 higher at $258.60.

Direct cash cattle trade activity was quiet again on Wednesday. Bids were elusive. Some early asking prices were reported in the South at $187 live, while dressed bids in parts of Nebraska were floated at $300. Significant trade volume appears to be holding out until sometime Thursday or Friday.

At the Ozarks Regional Stockyards in Missouri, steer and heifer calves under 650 pounds were $6 to $12 higher with heavier weights steady to $3 higher. The USDA says demand was good on a light to moderate supply. Calves under 500 pounds were in very high demand as local buyers were prepping for rapidly greening pastures. Receipts were down on the week and the year. Feeder supply included 39% steers and 35% of the offering was over 600 pounds. Medium and Large 1 feeder steers 460 to 498 pounds brought $347.50 to $381 and feeder steers 601 to 646 pounds brought $285 to $315. Medium and Large 1 feeder heifers 562 to 590 pounds brought $263 to $290 and feeder heifers 603 to 631 pounds brought $243 to $253.