Cattle futures gained some traction as fundamentals seemed to win the race, although Live Cattle continues to maintain the steep discount to cash. The ongoing rally in front-month Lean Hog futures likely helped, too.
Live Cattle futures closed an average of $1.48 higher for a range of $1.12 to $1.85 higher.
Feeder Cattle futures closed an average of $1.89 higher for a range of $1.05 to $2.65 higher.
Wholesale beef values continued strong, with chatter about packers needing and wanting to restock following Memorial Day. Choice boxed beef cutout value was 29¢ higher Wednesday afternoon at $245.54/cwt. Select was $1.27 lower at $218.18.