Cattle futures bounced back Thursday, about as much and fast as they fell in the previous session, on the same fundamentals. Initial fear—and kneejerk reaction—over the new U.S. tariffs on Chinese imports, fueled by algo trading, provide as apt an explanation as any.
Except for unchanged in the back contract, Live Cattle futures closed an average of 96¢ higher (60¢ to $1.35 higher).
Except for unchanged in April, Feeder Cattle futures closed an average of 97¢ higher (32¢ higher to $1.62higher in spot Aug).
Wholesale values were lower for Choice and steady for Select, with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 86¢ lower Thursday afternoon at $206.58/cwt. Select was 13¢ lower at $197.01.
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