Cash fed cattle prices took a solid step higher in late week trade…Equity markets settled narrowly mixed ahead of the long weekend…Coming up on your Cattle Current Market Update with Wes Ishmael.
Cattle feeders were rewarded for their marketing patience on Friday. Cash fed cattle prices were $3-$4 higher than the previous week on a live basis at $129-$130/cwt. Dressed trade was $5 higher at $205.
Although higher week to week, Cattle futures closed narrowly mixed on Friday as traders positioned ahead of the weekend, extended to three days for futures and equity markets by President’s Day.
After 82¢ higher in spot Feb, Live Cattle futures closed narrowly mixed, (12¢ lower to 40¢ higher).
Feeder Cattle futures closed narrowly mixed, 10¢ lower to 10¢ higher across the front half of the Board and then 15¢ to 55¢ higher.
Wholesale beef values continue to offer optimism. Choice boxed beef cutout value was 84¢ higher on Friday afternoon at $209.88/cwt. Select was 2¢ lower at $205.12.
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