Cattle futures closed sharply lower on Thursday, pressured by position squaring following the previous session’s rally, surging grain futures prices and the ongoing lack of commercial interest.
Live Cattle futures closed an average of $1.26 lower (80¢ to $1.80 lower), except for unchanged at the back.
Feeder Cattle futures closed an average of $2.19 lower ($2.05 to $2.37 lower).
Choice boxed beef cutout value was 8¢ lower Thursday afternoon at $207.65/cwt. Select was 9¢ higher at $195.58.