US: Direct cash cattle business picks up Thursday

Chicago Mercantile Exchange live and feeder cattle futures were down sharply on fund liquidation and sharply lower than a week ago direct cash business. The USDA says beef export sales were 13,600 tons, down 21% on the week, but up 24% from the four-week average, mainly to Japan, South Korea, and Mexico. December live was down $5.05 at $174.35 and February was $5.00 lower at $174.47. January feeders were $7.85 lower at 4224.92 and March was down $7.75 at $227.25. In direct cash cattle trade, some light business was reported in parts of the South at $180, $4 lower than last week’s weighted averages. In the North, dressed deals were marked at $287, $5 lower than the previous week. Some asking prices remain firm around $183 in Kansas and Texas, and $288 to $289 in Nebraska and Iowa. At the Hub City Livestock Auction in South Dakota, steer calves were mostly steady, yearling cattle were not well compared, and there were lower undertones noted on heifer calves compared to the most ...