Negotiated cash fed cattle trade ended last week mostly $1 lower on a live basis at $112/cwt. It was $2 lower in the western Corn Belt at $110. Dressed trade was $2-$4 lower at mostly $174-$178.
That helped dampen enthusiasm in Cattle futures Monday, with Feeder Cattle receiving extra pressure from the continued uptick in Corn prices.
Except for 15¢ higher in the back contract, Live Cattle futures closed an average of 46¢ lower.
Feeder Cattle futures closed an average of 86¢ lower.
Boxed beef cutout values were weak on light demand and light to moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 42¢ lower Monday afternoon at $204.72/cwt. Select was 29¢ lower at $197.98.
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