Negotiated cash fed cattle trade continued lower on Thursday at $106/cwt. in the western Corn Belt, which was $2-$4 less than last week. Live sales in other regions on Wednesday were mainly $3 less than last week at $107.
Choice boxed beef cutout value was 58¢ lower Thursday afternoon at $191.75/cwt. Select was 81¢ lower at $188.66.
Cattle futures spent most of the day under pressure, but reversed directions by the closing bell, apparently the product of short covering.
Except for 7¢ lower at the back, Live Cattle futures closed an average of 63¢ higher (30¢ to 92¢ higher).
After 2¢ lower in spot Aug, Feeder Cattle futures closed an average of 58¢ higher across a broad range (7¢ to 87¢ higher).
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