Negotiated cash fed cattle sales were at $109.00-$110.50/cwt. in Nebraska through Friday afternoon. That was steady to $2 less than previous week. Dressed trade was at mostly $173, which was $2 less than the prior week. Elsewhere, trade remained undeveloped for the week, based on USDA reports.
Despite that, Cattle futures gained ground, supported by extended gains in Lean Hog futures and strengthening wholesale beef values.
Live Cattle futures closed an average of 97¢ higher (47¢ higher at the back of the board to $1.60 higher in near Oct).
Feeder Cattle futures closed an average of $1.13 higher (67¢ higher to $1.70 higher).
Boxed beef cutout values were higher on Choice and weaker on Select with moderate to fairly good demand and light offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.28 higher Friday afternoon at $211.38/cwt. Select was 54¢ lower at $200.92.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More