Cattle futures found a foothold on Monday and recovered a portion of Friday’s losses. Depending on whom you talked to, explanations ranged from some seeing a bottom and hunting for bargains, to strength in wholesale beef prices and feedlot market currentness.
Except for 57¢ higher in the back two contracts, Live Cattle futures closed an average of $1.04 higher.
Feeder Cattle futures closed an average of $1.47 higher ($1.15 to $1.60 higher).
Choice boxed beef cutout value was 71¢ higher on Monday afternoon at $223.23/cwt. Select was 20¢ higher at $214.84.
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