Last week, live cattle were
mixed, feeder cattle were lower as the grains were higher. Live cattle
rebounded from being down early, finishing mixed, $0.65 lower to $1.00 higher.
The gains occurred mostly in the upfront contracts. Feeder cattle were lower as
deferred live cattle futures were lower. Feeder cattle closed $0.80 to $1.98
lower. The CME feeder cattle index was $240.69, $0.54 lower last Tuesday. Boxed
beef values were stronger Tuesday as Choice was $1.17 stronger and Selects
were $1.42 firmer. The grains had a positive day as soybeans led the way.
Soybeans gained 14 to 17 ¼ cents. Wheat was close behind gaining 9 ¾ to 13 ¼
cents Tuesday. Corn was also strong adding 6 to 7 cents.
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