The weekly Fed Cattle Exchange auction on Wednesday showed more life than recent weeks and helped bolster notions about higher country trade this week. All told, 636 head sold of the 1,450 head offered, for a weighted average price of $106.67/cwt., all for delivery at 1-9 days. The weighted average price there last week on 128 head sold was $104.75.
Strong buying support pushed Feeder Cattle futures sharply higher on Wednesday. That and reasonable hopes for higher cash fed cattle trade this week helped lift Live Cattle higher and beyond the recent narrow range.
Live Cattle futures closed an average of $1.73 higher ($1.00 to $2.97 higher).
Feeder Cattle futures closed an average of $3.07 higher ($2.37-$4.47 higher).
Choice boxed beef cutout value was 7¢ lower Wednesday afternoon at $192.04/cwt. Select was 31¢ lower at $188.52.
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