Cash fed cattle trade on Thursday was mainly steady with the previous week on moderate demand and trade. Live prices were at mostly $126-$127/cwt. with dressed trade at mostly $204.
Despite positive fundamentals and the oversold nature of the market, bears continued to drive Cattle futures lower on Thursday, helped along by technical selling.
Live Cattle futures closed an average of $1.04 lower (65¢ to $1.55 lower).
Feeder Cattle futures closed an average of $2.21 lower ($2.02 lower to $2.42 lower).
Choice boxed beef cutout value was 31¢ higher in the afternoon at $223.88/cwt. Select was $1.58 higher at $216.78.
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