Cattle futures drooped lower on Wednesday, following early-session support. The week’s softer cash fed cattle prices applied pressure, as did softer front-month Lean Hogs.
Prices in the weekly Fed Cattle Exchange Auction were $1 lower than country trade at a weighted average price of $119/cwt. for delivery of 1-9 days. Out of 651 offered, 401 head sold—four lots of steers and heifers in Kansas. Another 60 head were offered for delivery at 10-17 days with no takers.
In country trade so far this week, live prices are generally $1-$2 lower at $120 with dressed sales $1-$3 lower at $192.
Live Cattle futures closed an average of 62¢ lower.
After $1.10 lower in spot Jan, Feeder Cattle futures closed an average of 54¢ lower.
Choice boxed beef cutout value was 43¢ lower on Wednesday afternoon at $210.06/cwt. Select was 46¢ lower at $203.23.
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