Cash fed cattle trade perked up at the end of the week, according to reports for late-Friday trade. Live prices for the week were generally steady to $3 higher at $118-$120/cwt. in Kansas, $122 in Nebraska and $119-$123 in the western Corn Belt. Dressed trade was steady to sharply higher at $190.
Stronger cash prices helped Cattle futures barrel out of the blocks, building on the previous week’s momentum. Futures closed mixed, though, with uncertainty about the impact of the weekend’s brutal winter weather, and interest in Live Cattle likely capped by the gaping discount between spot Apr and June.
Other than an average of 56¢ higher in the front two contracts, Live Cattle futures closed an average of 11¢ lower.
Except unchanged in May and $1.37 higher in Mar, Feeder Cattle futures closed narrowly mixed, 32¢ lower to 25¢ higher.
Choice boxed beef cutout value was 82¢ lower Monday afternoon at $211.79/cwt. Select was 7¢ higher at $199.98.
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