Boxed beef cutout values this afternoon were higher on good demand and heavy offerings, USDA said.
- Choice rose $2.25 to $218.62/cwt.
- Select went up $3.98 to $197.79.
There were no reported negotiated cash sales in Iowa/Minnesota or Nebraska.
With the fire at the Tyson slaughter plant, there is expected less demand for live inventory, The Hightower Report said, leading to that limit-down trading. “While the news is negative to the cash market, it should be at least partially offset by higher demand from other plants and from higher beef prices,” they said.
“The long-term impact (of the plant closing) is still uncertain,” Stewart-Peterson said. “Live cattle contracts out to Jun 2020 have not come off their limit down open so far today and feeder contracts out to at least Mar 2020 have not come off their limit down open.”