When last week’s tally was complete, negotiated cash fed cattle trade was mostly $1-$2 higher at $112 to $114/cwt. Dressed trade was mostly steady to $4 higher at mostly $178.
Cattle futures were a touch lower Monday, presumably on profit taking and retrenching in light of recent strength, stronger cash prices and firmer wholesale beef values.
Except for unchanged in the back two contracts, Live Cattle futures closed an average of 28¢ lower.
Feeder Cattle futures closed an average of 83¢ lower (65¢ to $1.17 lower).
At $149.74, the CME Feeder Cattle Index closed at the highest level since January.
Boxed beef cutout values were higher on moderate to fairly good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 93¢ higher Monday afternoon at $205.68/cwt. Select was $1.24 higher at $198.33.
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