Negotiated cash fed cattle trade remained at a standstill in the country yesterday. That’s not surprising, given the previous day’s sudden and steep sell0ff in Cattle futures, along with Wednesday’s weekly Fed Cattle Exchange auction being postponed until today due to technical problems.
Live Cattle futures rebounded some, helped by fundamental support, but front-month Feeder Cattle contracts continued to erode.
Live Cattle futures closed an average of 99¢ higher (57¢ to $1.22 higher).
Feeder Cattle futures closed 22¢ to 72¢ lower in the front three contracts and then an average of $1.14 higher.
Choice boxed beef cutout value was 26¢ higher Wednesday afternoon at $250.71/cwt. Select was 33¢ higher at $219.90.