Feeder Cattle futures managed to build on the previous session’s gains. Although Live Cattle recovered some during the session, they closed mostly lower, taking away most of the gains from the last session.
Except for 10¢ and 20¢ higher in Apr and Jun, Live Cattle futures closed an average of 43¢ lower (22¢ to 80¢ lower).
Except for 2¢ and 10¢ lower at the back of the board, Feeder Cattle futures closed an average of 58¢ higher (40¢ to 72¢ higher).
Choice boxed beef cutout value was 68¢ lower Monday afternoon at $198.92/cwt. Select was 32¢ higher at $196.44. AMS analysts note that beef trimmings were sharply lower on light demand and heavy offerings.
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