In late trade on Friday, negotiated cash fed cattle trade ended up mostly $4 lower at $122/cwt. in the Southern Plains and Nebraska and at $118-$126 in the western Corn Belt. Dressed trade was steady to $5 lower in Nebraska at $189-$195; $3-$7 less in the western Corn Belt at $188-$193. Live trade in Colorado was mixed at $119-$122.
That news helped pressure Cattle futures, first a little and then a lot on Monday. Perhaps there was also some sense that wholesale beef values are running out steam sooner than later. The gap between spot Live Cattle and last week’s cash trade remains huge at $17 or so.
Live Cattle futures closed an average of $2.00 lower ($1.12 to $3.00 lower).
Feeder Cattle futures closed an average of $2.66 lower ($1.05-$3.52 lower).
Choice boxed beef cutout value was $1.15 higher Monday afternoon at $232.12/cwt. Select was 43¢ higher at $209.12. That was with fairly good demand and heavy offerings, according to the Agricultural Marketing Service.
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