Cash cattle trade remained undeveloped through Wednesday afternoon. So far, there’s not any reason to believe prices will be any worse than steady, likely higher.
For instance, slaughter steers sold $1-$2 higher at Sioux Falls Regional at $126.25-$127.50/cwt. (Ch-2-4). Slaughter heifers sold $2 higher in a light test at $126.25-$128.00 (Ch 2-4).
Only 255 head (three lots of heifers) were offered in the weekly Fed Cattle Exchange auction. There were no sales, but one P.O at $124/cwt.
Expectations for steady-to-higher cash trade, the lower U.S. dollar and higher Lean Hogs helped lift Cattle futures.
Live Cattle futures closed an average of 39¢ higher (17¢ to 82¢ higher in spot Feb.).
Feeder Cattle futures closed an average of 65¢ higher (30¢ lower to 92¢ higher).
Choice boxed beef cutout value was 45¢ higher on Wednesday afternoon at $207.81/cwt. Select was 38¢ higher at $203.51.
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