Despite the surge in cash fed cattle prices late week, Cattle futures softened some on Monday, pressured by overall bearishness in commodities, tied to trade concerns. Seasonally limping wholesale beef values added to the negative tone.
Live Cattle futures closed an average of 44¢ lower (12¢ to $1.00 lower).
Except for 12¢ higher in Apr, Feeder Cattle futures closed an average of 44¢ lower (15¢ to 75¢ lower).
Boxed beef cutout values were lower on Choice and steady on Select with light to moderate demand and heavy offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.11 lower Monday afternoon at $206.92/cwt. Select was 9¢ lower at $198.62.
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