Cattle Current Daily-Aug. 16, 2018

Cattle Current Daily-Aug. 16, 2018

Choice 2-4 steers brought $112.16 to $112.83/cwt. at Tama Iowa Wednesday. At Sioux Falls Regional in South Dakota, however, they sold steady to $1 lower than the previous week at $108.50-$109.50. That was the upper end of the range paid a day earlier in Nebraska on light trade.

There were 488 head offered in the weekly Fed Cattle Exchange Auction—none sold.

Cattle futures edged higher Wednesday, amid extremely light trade and declining open interest—range-bound with no conviction one way or the other.

Live Cattle futures closed an average of 29¢ higher.

Feeder Cattle futures closed an average of 45¢ higher.

Boxed beef cutout values were firm on Choice and weak on Select with moderate demand and moderate to heavy offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 31¢ higher Wednesday afternoon at $209.95/cwt. Select was 66¢ lower at $200.61.

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Major U.S. financial indices gave back more than the previous session’s gains on Wednesday. Pressures included tech stocks and lingering concerns about the financial crisis in Turkey.

The Dow Jones Industrial average closed 137 points lower. The S&P 500 closed 21 points lower. The NASDAQ was down 96 points.

2018-08-15T17:47:54-05:00

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