Cash fed cattle trade ranged from steady to $2 lower Thursday at $117-$118/cwt. on slow trade and light demand.
Choice boxed beef cutout value was $2.53 lower Thursday afternoon at $220.05/cwt. Select was $1.56 lower at $203.76.
Despite that, short covering seemed to be the primary driver in Cattle futures.
Except for 30¢ higher in the back two contracts, Live Cattle futures closed an average of $1.00 higher (72¢ to $1.40 higher).
Except for 10¢ and 12¢ higher in the back two contracts, Feeder Cattle futures closed an average of $1.62 higher ($1.12 to $2.40 higher).