Negotiated cash fed cattle prices were $2-$3 higher than last week in the Southern Plains on Thursday at $120-$121/cwt., on moderate trade and good demand. Though too few to trend, prices elsewhere were generally steady.
Even so, Cattle futures closed lower, weighed down in part by month-end position squaring and sagging wholesale beef values.
Choice boxed beef cutout value was $1.91 lower Thursday afternoon at $204.64/cwt. Select was $1.63 lower at $184.21. That’s about $4 lower for Choice in the last two days; $3 lower for Select.
Live Cattle futures closed an average 92¢ lower (57¢ to $1.62 lower).
Feeder Cattle futures closed an average of $1.26 lower (77¢ to $1.55 lower).
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