Cash fed cattle trade remained at an impasse through Thursday afternoon. Cattle feeders appear to have the leverage on their side, though, with current marketing and the recent weight-robbing winter weather. Plus, wholesale beef prices appear poised to continue trending higher.
Choice boxed beef cutout value was 5¢ higher on Thursday afternoon at $208.67/cwt. Select was $1.70 higher at $200.86; up about $8 in the last three days.
Following a positive start, sluggish trade and the lack of direction from cash fed cattle helped pressure Cattle futures on Thursday.
Other than 80¢ higher in the back contract, Live Cattle futures closed an average of 54¢ lower.
After 35¢ lower in spot Jan, Feeder Cattle futures closed and average of $1.18 lower.
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