Cash fed cattle trade was still undeveloped for the week through mid Friday afternoon. There was a few trades on either side of steady during the week, but too few transactions to trend. Prices the previous week were mainly $105 per cwt on a live basis and $165-$168 in the beef.
Cattle futures closed higher on Friday, apparently buoyed by hopes for stronger cash fed cattle prices and lingering thoughts that the bottom is near.
Other than 2¢ lower in the back contract, Live Cattle futures closed an average of $1.01 higher through the front four contracts and then an average of 46¢ higher.
Feeder Cattle futures closed an average of $1.12 higher (92¢ to $1.42 higher).
Choice boxed beef cutout value was 42¢ higher Friday afternoon at $191.42/cwt. Select was 87¢ lower at $185.85.
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