When all was said and done after late trade last week, live sales were $3-$5 lower at $108-$110/cwt. in the South and $108-$109 in the North. Dressed trade was $4-$9 less at $172-$173.
Lower cash fed cattle trade, more feedlot placements in May than expected and sharply lower outside markets all pressured Cattle futures significantly lower to start the week.
Live Cattle futures closed an average of $2.61 lower through the front four contracts, and then an average of $1.74 lower.
Feeder Cattle futures closed an average of $2.70 lower ($1.57 lower to $3.42 lower in spot Aug).
Boxed beef cutout values were steady to firm on moderate demand and offerings through Monday afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 53¢ higher at $217.69/cwt. Select was 13¢ lower at $201.89.
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