Futures and equity markets were closed Monday in observance of President’s Day. When traders get back to work Tuesday, there is no apparent reason for them to poor-mouth Cattle futures. Cash fed cattle prices ended mostly $4-$5 higher last week on a live basis at mostly $130/cwt. Dressed trade was $5 higher at $205.
Wholesale beef values also bounced higher to start the week. Choice boxed beef cutout value was $2.69 higher on Monday afternoon at $212.57/cwt. Select was $2.31 higher at $207.43.
There’s sure to be plenty of wariness, though, with the monthly Cattle on Feed report due out on Friday.
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