Negotiated cash fed cattle trade was yet to be established through Wednesday afternoon, but early indications point to prices being no worse than steady.
Slaughter steers sold mostly $1-$2 higher at Sioux Falls Regional in South Dakota on Wednesday. Slaughter heifers sold steady to $1 higher. Both at prices near steady with last week’s country trade.
Similarly, a single lot (148 heifers at 1,250 lbs.) sold out of the 829 head offered in the weekly Fed Cattle Exchange Auction, for a weighted average price of $126/cwt., which was fully steady with last week’s country trade.
Cattle futures made a stride toward increased stability on Wednesday with a mixed close, albeit with less support than at the outset of the day’s trading.
Live Cattle futures closed from 60¢ lower to 67¢ higher.
Feeder Cattle futures closed an average of 40¢ higher, except for 42¢ and 7¢ lower in the front two contracts.
Choice boxed beef cutout value was 94¢ higher on Wednesday afternoon at $209.37/cwt. Select was 41¢ higher at $203.14.
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