When all was said and done last week, negotiated cash fed cattle prices moved higher. Live sales in the Southern Plains and Nebraska were $2.00-$3.50 higher than the previous week at mostly $113/cwt. Dressed trade in Nebraska was $5-$6 higher at $178-$181. Compared to two weeks earlier, live trade in the western Corn Belt was mostly steady at $112. Dressed trade was steady to $3 higher at $178-$180.
Higher cash prices and firmer to stronger wholesale beef values helped Cattle futures move mostly higher to start the week.
Except for 20¢ lower in spot Aug, Live Cattle futures closed an average of 52¢ higher.
Except for 42¢ and 22¢ lower in the front two contracts, Feeder Cattle futures closed an average of $1.00 higher.
Wholesale beef values were firm to higher on good demand and moderate offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 65¢ higher Monday afternoon at $204.82/cwt. Select was $1.03 higher at $198.03.
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