Although too few to trend, scattered cash fed cattle trade on Wednesday was at softer money, as suspected. A few live sales in Nebraska were reported at $117-$118/cwt., which was $3-$4 less than last week. A few dressed trades in Nebraska and the western Corn Belt were $3 less than the previous week at $187.
Cattle futures trended lower again on Wednesday as more signs pointed to funds starting to unwind long positions amid growing market bearishness and the end of the year looming.
Live Cattle futures closed an average of $1.00 lower (52ยข to $1.27 lower).
Feeder Cattle futures closed an average of $1.90 lower ($1.65 to $2.10 lower).
Choice boxed beef cutout value was $2.68 lower on Wednesday afternoon at $206.40/cwt. Select was $2.52 lower at $184.11.
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