Despite continued volatility, cattle futures gained some ground as cash calf and feeder cattle values continued to strengthen. Yearling feeders sold fully steady to $5/cwt. higher, while calves traded mainly steady to $5 higher.
With projected ending U.S. corn stocks higher than at any time since 2004-2005, the monthly World Agriculture Supply and Demand Estimates released this week knocked back the projected season-average price a smooth 40¢/bu. at the mid-point to $3.20-$3.80/bu.