At the Chicago Mercantile Exchange, live and feeder cattle were higher following Friday’s On Feed report, feeders also found additional support from the day’s lower move in corn.
It was a quiet start to the week for direct cash cattle business. Bids and asking prices have yet to surface. The holiday-shortened week could impact how the cash cattle market reacts. It is a possibility significant trade could develop earlier than normal.
At Midsession at the Oklahoma National Stockyards, compared to last week, feeder steers were steady to $2 higher. Feeder heifers were mostly steady. The USDA says demand was moderate to good for feeder cattle.