Cash fed cattle trade remained mostly stuck in place through Wednesday afternoon. There was no country trade to speak of. Only one lot—128 heifers—traded in the weekly Fed Cattle Exchange Auction, out of 1,063 head offered. The weighted average price was $104.75/cwt. (1-9 day delivery), which was about even with last week’s country trade.
Despite early pressure and stagnant wholesale beef values, a sense of firming market conditions helped boost Cattle futures on Wednesday.
Live Cattle futures closed an average of 84¢ higher (40¢ to $1.30 higher).
Feeder Cattle futures closed an average of 51¢ higher.
Choice boxed beef cutout value was 39¢ lower Wednesday afternoon at $190.40/cwt. Select was $2.17 lower at $188.69.
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