Climbing futures prices later last week and firming wholesale beef values helped hold the line on cash fed cattle trade, when it finally opened up late on Friday. Prices were mainly steady to $1 higher than the previous week at $105/cwt. on a live basis and $165 in the beef, up to $168. Many would say that’s a victory, considering that expectations earlier in the week were for lower money.
Although the degree of support softened, Cattle futures closed mostly higher on Monday with Feeder cattle in the lead once again.
Other than 12¢ lower in spot Oct and 7¢ lower in Feb, Live Cattle futures closed an average of 59¢ higher (2¢ to $1.15 higher).
Feeder Cattle futures closed an average of 84¢ higher (57¢ to $1.07 higher).
Choice boxed beef cutout value was 32¢ lower Monday afternoon at $191.56/cwt. Select was 41¢ higher at $190.38.
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