Although too few transactions to trend, there were some dressed sales in Nebraska and the western Corn Belt on Thursday at $205/cwt., which was even with last week and $1 higher than sales the day before.
Futures traders applied pressure to Feeder Cattle early in the session amid sluggish trade and general bearishness. Apparent profit taking ultimately helped lift prices above session lows. Live Cattle traded both sides of even.
After 5¢ higher in spot Apr, Live Cattle futures closed 5¢ to 32¢ lower.
After 30¢ higher in spot Mar, Feeder Cattle futures closed an average of 38¢ lower in the next four contracts (7¢ to 62¢ lower) and then 7¢ to 22¢ higher.
Choice boxed beef cutout value was $1.27 higher on Thursday afternoon at $222.30/cwt. Select was 50¢ higher at $215.60.
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