Market News

Cattle higher ahead of cash trade

Chicago Mercantile Exchange live and feeder cattle were higher ahead of widespread cash business. DTN reports there was light trade in Nebraska at $125 Live and $195 Dressed. Asking prices are $128 to $129 South and $198+ North, with bids at $125 Live and $192 Dressed. The estimated slaughter of 128,000 head was up 2,000 on the week and 3,000 on the year.

Hogs were higher on the discount to the cash index, Wednesday’s higher cutout but there are the longer term, seasonal, demand uncertainties. Terminals were steady to a dollar lower with tops at $50 to $58. The Eastern Cornbelt was $2.08 lower with the weighted average at $76.29, the Western Belt was up $1.39 at $80.11, and Iowa/Southern Minnesota was $1.21 higher at $79.94. The estimated slaughter was 434,000 head, 2,000 more than a week ago and 3,000 above a year ago.