There were some hints on Wednesday of the potential for steady to higher cash fed cattle trade this week…producer optimism waned last month according to the most recent Ag Barometer…coming up on your Cattle Current Market Update with Wes Ishmael.
The weekly Fed Cattle Exchange auction on Wednesday offered hope that cash fed cattle trade this week might be no worse than steady. Out of 1,732 head offered, 784 head sold for a weighted average price of $108/cwt. for delivery at 1-9 days and 1-17 days. That’s about even with last week’s country trade. There were no sales at the auction the previous week.
Similarly, slaughter steers sold mostly steady to $1 higher at Sioux Falls Regional Livestock on Wednesday. Slaughter heifers traded steady to $3 higher.
Cattle futures closed mixed on Wednesday after an up and down day of trading.
Live Cattle futures closed narrowly mixed (30¢ lower to 40¢ higher).
Feeder Cattle futures closed an average of 82¢ lower (32¢ to $1.17 lower).
Choice boxed beef cutout value was 46¢ lower Wednesday afternoon at $197.41/cwt. Select was 53¢ higher at $189.55.
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