Cattle futures mostly edged higher Thursday…Ag producer sentiment increased last month, at least according to one measure…coming up on your Cattle Current Market Update with Wes Ishmael.
Cattle futures closed mainly a touch higher Thursday, supported by follow-through buying and expectations for firm to higher cash fed cattle prices this week. Trade and volume continued to be sluggish, though.
Except for 7¢ lower in spot Aug, Live Cattle futures closed an average of 19¢ higher.
Other than 22¢ and 2¢ lower in the front two contracts, and 12¢ lower at the back of the board, Feeder Cattle futures closed an average of 40¢ higher.
Boxed beef cutout values were lower on light demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.83 lower Thursday afternoon at $208.43/cwt. Select was $1.01 lower at $198.70.
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