When all was said and done last week, negotiated cash fed cattle sales were generally $2-$4 higher on a live basis at $121-$122/cwt. in the Southern Plains; $119-$124 in the Northern Plains; $122-$125 in the western Corn Belt. Dressed trade was $5 higher at $195 in Nebraska and the western Corn Belt.
The weekly 5-Area Direct average had steers $2.22 higher at $121.71 on a live basis and $1.87 higher in the beef at $191.84. Similar trends and prices for heifers.
Cash strength and the lack of negative surprise in Friday’s Cattle on Feed report, helped traders continue pushing Cattle futures higher on Monday.
After $2.37 higher in spot Apr, Live Cattle futures closed an average of 99¢ higher.
Feeder Cattle futures closed an average of $1.82 higher ($1.27 to $2.62 higher).
Wholesale beef values finally found some spark on Monday. Choice boxed beef cutout value was $3.35 higher in the afternoon at $215.11/cwt. Select was $1.59 higher at $201.72.
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