Moderate trading seen in US cash cattle

Moderate US fed cattle trading was reported in Nebraska's dressed market Thursday morning in a range from US$145-148 per hundredweight on a dressed basis.

In addition, light trading was taking place in Kansas at US$91 on a live basis, market analysts and brokers said. No trading was reported in the Texas/Oklahoma area. Bids ranged from US$90-91 live with asking prices ranging from US$93-95.

Last week, cattle traded at mostly US$92.50 on a live basis in Kansas to mostly US$93 elsewhere. Dressed basis sales were mostly US$150.

Meanwhile, meat markets remain an area of concern for cash cattle traders since it has a direct relationship to packers' demand for fed cattle. The seasonal tendency is for market weakness going into the summer and prices have worked lower since mid-May.

The USDA at midday reported its choice composite boxed beef carcass price was down US$0.26 per hundredweight at US$153.51, while select beef was off US$0.10 at US$146.30. The volume of fabricated loads was at 117, and there were 51 loads of trimmings and coarse grind product reported.