Country cash fed cattle trade remained undeveloped through Wednesday afternoon. Four lots (413 head from Kansas) sold out of the 2,982 head offered in the weekly Fed Cattle Exchange auction, for a weighted average price of $122.40/cwt. (delivery 1-9 days). That was $2 less than most of last week’s country trade in the region.
Cattle futures continued the same overall sideways back and forth of late, this time settling mostly higher.
Other than 97¢ and 10¢ lower in the front two contracts, Live Cattle futures closed an average of 75¢ higher.
Feeder Cattle futures closed an average of 87¢ higher (55¢ to $1.17 higher).
Boxed beef cutout values moved higher on Wednesday with moderate to fairly good demand and light to moderate offerings, according to the Agricultural Marketing Service. Select and Choice rib, chuck, round, and loin cuts steady to firm.
Choice boxed beef cutout value was 87¢ higher Wednesday afternoon at $227.30/cwt. Select was 79¢ higher at $207.88.
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Android | RSS | More