Cash fed cattle traded about $4.50 higher in the weekly Fed Cattle Exchange Auction on Thursday at an average price of $136.75. Only about 25% of the 1,396-head offering sold—and that was for delivery at 1-17 days. Country trade failed to materialize to a large enough degree for a trend in any of the major cattle feeding regions through the afternoon.
Cattle futures backed away from firm early support to trade narrowly mixed in Live Cattle and lower in Feeder Cattle.
Live Cattle futures closed 17¢ lower to 17¢ higher, except for 45¢ lower in away Jun.
Feeder Cattle futures closed an average 83¢ lower (65¢ to $1.02 lower).
Choice boxed beef cutout value was 32¢ lower Thursday afternoon at $250.39/cwt. Select was 11¢ higher at $220.01.