The monthly Cattle on Feed report issued during trading hours on Friday pressured Cattle futures with significantly more placements than expected.
Except for 20¢ higher and 20¢ lower at either end of the board, Live Cattle futures closed an average of 86¢ lower (55¢ to $1.30 lower).
Feeder Cattle futures closed an average of $1.58 lower.
Choice boxed beef cutout value was $1.44 higher on Friday afternoon at $199.56/cwt. Select was $1.01 higher at $187.88.
Except for wheat, cash bids for grain and soybeans were a touch higher on Friday, according to the Daily National Grain Market Summary.
Major U.S. financial indices edged lower on Friday. Support included President Trump signing tax reform into law. Pressure included less of an increase in November personal income than investors expected. According to the U.S. Bureau of Economic Analysis on Friday, November personal income was 0.3% higher.
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