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In the world of market news, cattle and hog futures are experiencing significant shifts. The Chicago Mercantile Exchange sees live and feeder cattle trading lower ahead of the week's direct business. February live cattle closed $2 lower at $186.32, while April contracts closed $1.95 lower at $288.55. January feeder cattle closed $2.02 lower at $265.92, and March feeder cattle closed $2.10 lower at $253.60. A light round of direct cattle business developed on Thursday, with deals marked in Nebraska at $297 dressed, $2 higher than the previous week's weighted averages. Some light business in Texas was reported at $189 to $190, steady to $1 higher than the prior week's business. Asking prices in the South were around $192 to $194 live, but didn't surface in the North. Look for more business to take place before the end of the day Friday.

At the Huss Livestock Market in Nebraska

Steers and heifers under 600 pounds sold sharply higher, while steers over 600 pounds were steady to $10 higher. Heifers over 600 pounds were steady to $4 higher. The USDA reports that demand from buyers in the crowd and online was good to very good. Receipts were up from two weeks ago and on the year. Feeder supply included 60% steers and 55% of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 649 pounds brought $301 to $320, and feeder steers 650 to 694 pounds brought $280 to $302. Medium and Large 1 feeder heifers 500 to 531 pounds brought $301 to $318, and feeder heifers 650 to 679 pounds brought $266 to $273.