Negotiated cash fed cattle trade continued the week’s trend in the western Corn Belt Thursday at $105-$106/cwt. on a live basis. So far this week, live prices there and in Kansas and Nebraska are mostly $2-$3 lower at mainly $106. Dressed trade is $2-$3 lower at mostly $170.
Even so, Cattle futures edged higher, amid light trade and little conviction one way or the other.
Live Cattle futures closed an average of 58¢ higher (25¢ higher to $1.17 higher in expiring spot June).
Except for 12¢ and 20¢ lower in the back two contracts, Feeder Cattle futures closed an average of 66¢ higher (10¢ higher to $1.05 higher in spot Aug).
Boxed beef cutout values were sharply lower for Choice and steady for Select with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.06 lower Thursday afternoon at $213.24/cwt. Select was 22¢ lower at $200.66.
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