Negotiated cash fed cattle trade continued on Friday, with too few transactions to trend in Nebraska and the western Corn Belt, but there was a sense that prices could maintain or build on earlier-week strength. Prices in the Southern Plains were $2-$4 higher on Thursday at mostly $121/cwt. in the Texas Panhandle and at $122 in Kansas.
That, and a bounce in support late in the day, helped Cattle futures regain some of the ground lost in the previous session.
Except for $1.55 higher in spot Apr and 22¢ higher in the back contract, Live Cattle futures closed an average of 61¢ higher.
Other than 65¢ lower in the back contract, Feeder Cattle futures closed an average of 65¢ higher except for 7¢ higher in spot Apr.
Choice boxed beef cutout value was 64¢ higher Friday afternoon at $211.98/cwt. Select was $1.65 higher at $200.13.
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