Nearby cattle futures close at new highs

Nearby Chicago Mercantile Exchange live and feeder cattle futures notched new record closes Friday as wholesale beef prices continued their surge.

February live was up $.20 at $140.35 and soon-to-expire January feeders were $.20 higher at $170. Choice boxed beef was up $2.92 at $231.71 and Select was $3.81 higher at $229.32 on moderate demand and very light offerings.

Commodity markets will be closed Monday in observance of Martin Luther King Jr. Day.

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