Negotiated cash fed cattle trade remained undeveloped through Friday afternoon, with too few transactions to trend on limited trade and light demand up north—a standstill in Colorado and the Texas Panhandle. There were a few early live sales reported in the western Corn Belt Thursday at $106.00-$108.50/cwt.; a few early dressed sales at $170.
Cattle futures softened Friday, pressured by lower wholesale beef values and thoughts that negotiated cash fed cattle prices could lose ground.
However, Monday’s strong surge—due in part to the announced trade pact between the U.S. and Mexico—was enough to boost Cattle futures slightly higher week to week.
Other than $3 lower in expiring spot Aug, Live Cattle futures closed an average of 34¢ lower.
Feeder Cattle futures closed an average of $1.23 lower.
Wholesale beef values were lower to sharply lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.04 lower Friday afternoon at $209.69/cwt. Select was 94¢ lower at $201.27.
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