There were significantly more cattle—3,931 head—offered in the weekly Fed Cattle Exchange Auction on Wednesday. All said and done, 450 head sold for 1-9 day delivery at a weighted average price of $117.71/cwt.; 59 sold for 17-30 day delivery at a weighted average price of $114.
That mirrored light country trade in the Southern Plains. Though too few to trend, there were some early live sales in the Texas Panhandle at $117 and in Kansas at $117-$118.
Cattle futures were mostly a repeat of the prior session, strong support early that eroded with a lack of activity.
After 70¢ higher in spot Apr, Live Cattle futures closed narrowly mixed, (an average of 20¢ lower in five contracts to an average of except for 8¢ higher in three.
Feeder Cattle futures closed narrowly mixed (from an average of 6¢ lower in three contracts to an average of 32¢ higher in five contracts).
Choice boxed beef cutout value was 44¢ lower Wednesday afternoon at $213.07/cwt. Select was 72¢ lower at $200.61.
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