Negotiated cash fed cattle trade remained mostly undeveloped through Friday afternoon, with no trends from USDA. But, the Texas Cattle Feeders Association reported its members in the Southern Plains trading cattle at $111/cwt., which was $2 less than the previous week.
Cattle futures basically treaded water on Friday, after stronger pressure earlier in the session, with the lack of cash direction, continued light trade and some apparent positioning ahead of the weekend.
Live Cattle futures closed an average of 35¢ lower.
Except for 30¢ lower in spot Aug and 5¢ lower in Nov, Feeder Cattle futures closed 7¢ to 35¢ higher.
Wholesale beef values were sharply lower for Choice and weak for Select, with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $2.44 lower Friday afternoon at $204.14/cwt. Select was 64¢ lower at $196.37.
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