Boxed beef cutout values this afternoon were sharply higher on good demand and light offerings, USDA said.
- Choice rose $3.78 to $236.12/cwt.
- Select went up $4.75 to $210.67.
In negotiated cash sales in Iowa-Minnesota, the USDA reported 810 head sold live at $106-08.65, with no dressed sales. In Nebraska, 216 head sold dressed at $179 with no live sales.
“Ultimately, I think there will be tremendous value in cattle,” Oliver Sloup of Blue Line Futures said. He said that once the damage is done from the “emotional” selling of the Tyson plant, things may open up for those looking to get into the market.
A discount to the cash cattle market is seen as a positive force, The Hightower Report said. “The surge in beef prices this week could help to slow the weak trend for cash cattle this week,” they said.
