Cattle feeders in the Southern Plains traded fed cattle for $118/cwt. on Tuesday, which was $1 less than last week. Though too few to trend, there were a few live sales reported in Nebraska at $118-$120, steady to $1 lower than last week; a few dressed trades $2 lower at $188.
Choice boxed beef cutout value was $2.45 higher Tuesday afternoon at $206.63/cwt. Select was 60¢ higher at $188.65.
Slightly lower to steady cash fed cattle prices, higher wholesale beef value and short covering ahead of Thanksgiving all helped Cattle futures gain a foothold, at least for a day.
Live Cattle futures closed an average $1.05 higher (47¢ to $1.30 higher).
Except for 35¢ higher in the back contract, Feeder Cattle futures closed an average of $1.69 higher ($1.00 to $2.07 higher).
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