Negotiated cash fed cattle trade ended last week generally steady with the previous week, with live sales at mostly $107/cwt. and dressed sales at $170.
Cattle futures closed higher, led by Feeder Cattle. There was some chatter about part of the support coming from traders expecting African Swine Fever in China to support the hog market and beef by extension (see below).
Live Cattle futures closed an average of 53¢ higher (15¢ to $1.05 higher in spot Oct).
Other than unchanged and 17¢ higher at the back of the board, Feeder Cattle futures closed an average of $1.06 higher.
Wholesale beef values were sharply lower on Choice and weak on Select, with light to moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.19 lower Friday afternoon at $206.56/cwt. Select was 74¢ lower at $197.09.
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