USA: Midday cash livestock markets

Direct cash cattle trade is off to a slow start again Wednesday. Packer inquiry remains very limited, with even a token bid nowhere to be found. Asking prices are around $166 to $167-plus live in the South, but still not established in the North. The Fed Cattle Exchange Auction today reported 7 lots totaling 1,055 head. None were sold. Opening prices were at $163, high bids were at $163.25 to $164, but none of these met reserve prices of $165 to $167. Just a handful of live trade was reported in parts of Iowa yesterday at $162. But not enough business has been conducted this week to establish any kind of an accurate trend. Boxed beef was lower at midday on light demand for light offerings. Choice is $1.58 lower at $286.35 and Select is $.91 lower at $276.58. At the Ozarks Regional Stockyards in Missouri, steer and heifer calves traded $6 to $12 higher compared to last week with spots $16 higher. USDA says yearlings were not well tested however undertones were higher. Demand was ...