Most of the offering in Wednesday’s weekly Fed Cattle Exchange Auction sold—1,140 out of 1,777 head—but it was at lower money than cash trade last week.
Prices were basically $105/cwt. (weighted average) on a live basis and $166 in the beef—delivery for 1-17 days. That’s $1-$2 less than last week’s country trade for live cattle and $4 less on a dressed basis.
As for country trade, there were too few negotiated cash fed cattle sales to trend in any major cattle feeding region through mid Wednesday afternoon—a few live sales at $105/cwt. in Nebraska and the western Corn Belt; a few in the beef at $165-$166. That’s $2 less on a live basis than last week in those regions and $4-$5 lower dressed.
After moving lower early in the session with follow-through selling, Cattle futures eked out minimal gains at the close, presumably tied to profit taking.
Except for 7¢ and 22¢ lower in the back two contracts, Live Cattle futures closed an average of 24¢ higher.
Except for 15¢ and 42¢ lower at the back of the board, Feeder Cattle futures closed an average of 47¢ higher.
Choice boxed beef cutout value was 5¢ lower Wednesday afternoon at $191.72/cwt. Select was 33¢ higher at $191.12.
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