By late Friday afternoon, cash fed cattle trade remained mostly undeveloped. Although too few transactions to trend, higher money was reported in Nebraska at $114/cwt. on a live basis, which was $2.50-$3.00 higher than the previous week. Early live sales in the western Corn Belt were at $114-$115 ($3-$4 higher); early dressed sales were $4-$6 higher at $182. Late in the day, the Texas Cattle Feeders Association reported its members trading live cattle at $115, which was $5 higher than the previous week.
Expectations for stronger cash trade helped boost Cattle futures Friday, extending the week’s gains.
Live Cattle futures closed an average of $1.44 higher through the front three contracts and then an average of 28¢ higher (7¢ to 62¢ higher).
Feeder Cattle futures closed an average of 69¢ higher (27¢ higher to $1.20 higher in spot Aug).
Boxed beef cutout values were steady on moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 20¢ lower in the afternoon at $226.21/cwt. Select was 23¢ lower at $203.18.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More