Negotiated cash fed cattle trade was light to moderate in Kansas and Colorado through Tuesday afternoon was $1 lower than last week at $126/cwt., as some cattle feeders likely were taking advantage of the basis. Last week’s trade was $3-$4 higher at $125-$127/cwt., mostly $127. Dressed trade was $5 higher at $200. Though lower on the day, the price level speaks to currently tight front-end supplies, helped along by the recently strength in wholesale beef values.
Choice boxed beef cutout value was 58 higher Tuesday afternoon at $209.69. Select was 24 higher at $204.37. That’s $2.84 higher week to week for Choice and $4.21 higher for Select.
Live Cattle Futures slowed and average of 85¢ lower in the front two contracts and then narrowly mixed from 30¢ lower to 22¢ higher.
Feeder Cattle futures closed an average of 47¢ higher (17¢ higher in spot Mar to 95¢ higher.
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