The sell-off continued in Cattle futures on Thursday, less dramatically than the day before, with sharply lower grain prices tempering the pullback in Feeder Cattle.
Live Cattle futures closed an average of $1.16 lower (75¢ to $1.45 lower).
Feeder Cattle futures closed an average of 44¢ lower across a broad range (7¢ to $1.10 lower).
There weren’t enough cash fed cattle trades to trend on Thursday, but those reported at $116/cwt. on a live basis were steady with the highs established earlier in the week.
Choice boxed beef cutout value was $1.03 lower Thursday afternoon at $200.63/cwt. Select was 42¢ lower at $196.19. The Choice-Select spread was $4.44, the narrowest since March.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More