Cash fed cattle continued on Wednesday at mostly higher money. Live sales in the western Corn Belt were $2-$3 more than last week at $128-$131/cwt. Dressed trade was mostly $3 higher at $207.
Earlier in the day, the handful of cattle (113 head—2 lots from Kansas) offered in the weekly Fed Cattle Exchange Auction, sold even with the $127 price established in the Southern Plains on Tuesday.
Cash trade failed to budge futures traders much. Early on, prices rallied higher but ran out of steam in a hurry.
Except for $1.10 higher in spot Apr, Live Cattle futures closed unchanged to an average of 20¢ higher.
Except for 7¢ and 27¢ lower at the back, Feeder Cattle futures closed an average of 50¢ higher.
Choice boxed beef cutout value was 38¢ higher Wednesday afternoon at $224.11/cwt. Select was 26¢ higher at $217.01.
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