Negotiated cash fed cattle trade continued the week-to-week trend of $2-$3 higher with live sales at mainly $120 and dressed sales at mostly $190.
Feeder Cattle futures extended the previous session’s strong rally, helped along by another strong step down in corn prices. Live Cattle were unable to garner follow-through support.
Live Cattle futures closed from unchanged to mostly narrowly mixed to the downside (7¢ higher to 45¢ lower).
Feeder Cattle futures closed an average of $1.32 higher (85¢ to $2.05 higher). That makes for an average of about $5.50 higher in the last two trading sessions and $5-$8 higher week to week.
Choice boxed beef cutout value was $2.84 lower Thursday afternoon at $209.85/cwt. Select was $1.47 lower at $197.26.