Cattle futures higher to finish the week

At the Chicago Mercantile Exchange, live and feeder cattle were up, supported by cash and wholesale business. June live cattle closed $2.02 higher at $181.05 and August lives closed $1.67 higher at $179.05. August feeders closed $2.50 higher at $259.85 and September feeders closed $2.45 higher at $260.85.

Direct cash cattle trade activity held out until Friday, and it was worth the wait for sellers. Dressed deals in the North were marked at $300, that’s $5 higher than the previous week’s weighted average basis in Nebraska. Live deals in the South were marked at $186, $2 higher than the previous week’s business.

In Oklahoma this past week, feeder steers were $2 to $4 higher. Steer calves were steady to $5 higher. Heifers were $2 to $6 higher. The USDA says demand was good for solid offerings. Markets were active. Receipts were up on the week and the year. Feeder supply included 55% steers and 77% of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 647 pounds brought $274 to $302.50 and feeder steers 850 to 893 pounds brought $201 to $241. Medium and Large 1 feeder heifers 700 to 749 pounds brought $214 to $243 and feeder heifers 755 to 798 pounds brought $192 to $240.

In Nebraska, hay sales were steady. The USDA says demand was light, but a few buyers continue to make purchases. There was limited hay cut this past week. Alfalfa weevil damage is starting to show up in some fields. Alfalfa, good, large rounds, brought $110. Grass, good, large rounds brought $105. Prairie/Meadow grass, premium, large squares brought $150.