Cattle futures closed sharply lower on the front end, led by Live Cattle, as bears continue to win the day, and despite the cash premium.
Live Cattle futures closed an average of $1.14 lower through the front three contracts, (82¢ to $1.57 lower) and then an average of 31¢ lower except for an average of 20¢ higher at the back of the board.
Except for 7¢ and 30¢ higher at the back of the board, Feeder Cattle futures closed an average of 47¢ lower.
Choice boxed beef cutout value was 24¢ lower Monday afternoon at $223.90/cwt. Select was 23¢ higher at $217.49.
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