USA: Midday cash livestock markets

Direct cattle markets are quiet, but packer inquiry is improving. Bids are $176 on the live basis in Kansas and Texas and $276 to $278 dressed in Nebraska, with asking prices around $178 to $180 live and $280+ dressed. There has been some very light trade this week, not enough to establish a trend. Tuesday’s activity was at $176 live in Kansas and $175 live and $275 dressed in Iowa, while Wednesday’s business was at $176 live in Kansas and $275 dressed in Nebraska. The USDA’s semi-annual Cattle Inventory report was close to expectations, indicating contraction last year and projecting a further tightening of supplies this year. The USDA says beef export sales were down on the week at 16,700 tons, with Japan and China topping the list.At the Bassett Livestock Auction feeder cattle sale in Nebraska, compared to two weeks ago, steers weighing 550 to 750 pounds were $2 to as much as $20 higher, while a limited number of comparable offerings for heifers weighing 650 pounds were up $3. ...