Negotiated cash fed cattle prices in the Southern Plains on Friday were steady with the previous week at $111/cwt. Dressed trade was also steady in Nebraska at $175. Trade and demand were moderate in both regions. Elsewhere, prices appeared to be mostly steady, but there were too few transactions to trend.
Cattle futures edged hire on Friday, presumably in part due to short covering ahead of the monthly Cattle on Feed report (see below).
Live Cattle futures closed an average of 49¢ higher, (20¢ to 85¢ higher).
Feeder Cattle futures closed an average of 41¢ higher (10¢ to 82¢ higher).
Choice boxed beef cutout value was 29¢ higher Friday afternoon at $199.86/cwt. Select was 38¢ higher at $191.14.
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