Another round of long liquidation and technical selling rattled Cattle futures on Friday, fueled along by the surprising downturn in cash fed cattle prices that were mostly steady to $1-$2 lower on a live basis $121-$123/cwt. Dressed trade was steady to $1 lower at $193-$195.
Other than 80¢ lower in the back contract, Live Cattle futures closed an average of $2.17 lower ($1.77 to $3.00 lower).
Feeder Cattle futures closed an average of $2.95 lower ($2.40 to $3.57 lower).
Packers also benefited from increasing wholesale beef values. Choice boxed beef cutout value was 84¢ higher on Friday afternoon at $209.51/cwt. Select was $1.46 higher at $202.32.
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