Cash fed cattle trade roared higher on Thursday: $4-$5 higher in the Southern Plains at $136-$137/cwt.; $4-$7 higher in Nebraska at $136.00-$137.50 on a live basis and $5-$7 higher in the beef at $215, a few up to $216. Dressed trade was also at $215 in the western Corn Belt, which was $5-$7 higher than the previous week.
That, higher outside markets and the previous session’s fundamental leanings helped propel Cattle futures sharply higher; limit higher in front months.
Live Cattle futures closed an average of $2.41 higher ($1.42 to $3.00 higher).
Except for 50¢ higher at the very back, Feeder Cattle futures closed an average of $4.15 higher ($3.57 to $4.50 higher).