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Austin Schroeder at Barchart.com said, “Live cattle futures rallied on Wednesday, with contracts up $4.20 to $4.50 at the close. Open interest was up 829 contracts on Wednesday. Cash trade has yet to be reported so far this week. Wednesday morning’s Fed Cattle Exchange online auction showed no sales on the 1,224 head, with bids at $238.”
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Boxed beef cutout values this afternoon were lower on Choice and lower on Select, the USDA said.
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