Only a single lot (274 heifers in Texas) sold in the weekly Fed Cattle Exchange Auction. The weighted average price was $120/cwt. for delivery at 1-9 days. There were 1,515 head on offer.
Slaughter steers and heifers sold mostly $5-$6 higher at Sioux Falls Regional Livestock in South Dakota on Wednesday. Choice steers brought $116.00-$119.75/cwt.; $116.50-$118.25 for heifers.
Although traders backed away from stronger follow-through support early in the session, Cattle futures closed solidly higher again on Wednesday.
Live Cattle futures closed an average of 70¢ higher (32¢ to $1.17 higher).
After 27¢ higher in spot Nov, and besides 57¢ and 50¢ higher in the back two contracts, Feeder Cattle futures closed an average of $1.08 higher.
Choice boxed beef cutout value was 95¢ higher Wednesday afternoon at $207.39/cwt.; that’s $7 higher week to week. Select was 19¢ lower at $193.71.
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