Cattle futures moved lower again Monday, amid up-and-down, choppy trade. Declining open interest suggests current uncertainty is keeping some folks off the field.
Except for 10¢ higher in the back contract, Live Cattle futures closed an average of 55¢ lower (15¢ lower in spot Jun to $1.17 lower).
Feeder Cattle futures closed an average of 73¢ lower (from 30¢ lower at the back of the board to $1.47 lower in spot Aug).
Boxed beef cutout values were steady for Choice and higher for Select Monday on moderate to fairly good demand and moderate to heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 4¢ higher in the afternoon at $227.57/cwt. Select was $1.45 higher at $206.25.
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