Negotiated cash fed cattle sales continued to trend lower on Wednesday at mostly $126/cwt. in the Northern Plains and $125-$127 in the western Corn Belt. Dressed trade was $2-$5 lower than last week at $200-$203.
There were only two lots from Kansas—166 head—offered in the weekly Fed Cattle Exchange Auction. They sold for a weighted average price of $126.63/cwt. for delivery at 1-9 days.
Feeder Cattle futures tried for some stability in yesterday’s session but ultimately followed Live Cattle lower, led by the spot month.
Except for 20¢ lower at the back, Live Cattle futures closed an average of $1.23 lower (65¢ to $1.87 lower in spot Apr, which closed $5.30 lower week to week).
Feeder Cattle futures closed an average of $1.33 lower ($1.00 to $1.47 lower).
Choice boxed beef cutout value was $1.03 higher Wednesday afternoon at $224.38/cwt. Select was 35¢ lower at $216.39.
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