There were 1,249 head offered in the weekly Fed Cattle Exchange Auction Wednesday. None were sold, but one lot of steers from Kansas was passed out at $111/cwt., which was $2 less than last week’s price in the Southern Plains. Likewise, there was too little country trade to establish a market.
Cattle futures traded on both sides of even Wednesday, amid light trade and little direction. Other than spot Live Cattle, most contracts in both pits meandered to marginal gains or losses.
Except for unchanged in Feb, Live Cattle futures closed an average of 38¢ higher (15¢ higher to 97¢ higher in spot Aug).
Except for 7¢ higher in spot Aug and 2¢ higher in Jan, Feeder Cattle futures closed an average of 10¢ lower.
Wholesale beef values were steady to weak on light to moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 1¢ lower Wednesday afternoon at $204.64/cwt. Select was 37¢ lower at $197.58.
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