Cattle futures closed mostly lower on Monday…early-week auction prices were mostly steady to higher for calves and feeder cattle…coming up on your Cattle Current Market Update with Wes Ishmael.
Cattle futures struggled to maintain some of the stability established in deferred contracts on Friday, losing the battle for the most part as traders continue fretting over sagging wholesale beef values and near-term supply abundance. Sliding nearby Lean Hog futures added spillover pressure.
Choice boxed beef cutout value was $1.20 lower Monday afternoon at $193.09/cwt. Select was 88¢ lower at $191.62.
Live Cattle futures closed 5¢ to 45¢ lower, except for 20¢ higher in Dec, 25¢ higher in away Oct and unchanged at the back.
Feeder Cattle futures closed an average of 66¢ lower across the front half of the board and then 5¢ lower to 55¢ higher.
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