Although there were too few transactions to trend, a few live sales were reported in the western Corn Belt on Thursday at $120-$121/cwt. and a few in the beef at $190-$192. On a live basis, that was $2-$3 more than the top end of last week’s prices in the region; $9-$10 more in the beef.
Cattle futures closed lower on Thursday—arguably more of a breather from the recent rally than anything else. Queasiness about-near term demand and where prices can go from here also limited trade.
After $2.27 and $1.30 lower in the front two contracts, Live Cattle futures closed an average of 17¢ lower (5¢ to 50¢ lower).
Feeder Cattle futures closed an average of $1.50 lower ($1.15 to $2.42 lower).
Choice boxed beef cutout value was 86¢ higher Thursday afternoon at $208.25/cwt. Select was 55¢ lower at $193.16.
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