The overall weighted average of $117.68/cwt. for the weekly Fed Cattle Exchange auction was just 59¢ shy of the previous week’s average. About a third (772 head) sold out of the 2,119 head offered—most for delivery at 1-9 days.
Eventual country trade in Nebraska basically mirrored the pace. Live prices were $1-$3 less than the previous week at mostly $117/cwt. Dressed trade was $2 lower at $188.
Cattle futures were a roller coaster, swinging from early support to mid-session pressure and then mostly back to gains for the day.
Except for $1.12 higher in spot Aug and 2¢ lower at the very back, Live Cattle futures closed an average of 43¢ higher (12¢ to 62¢ higher).
Feeder Cattle futures closed narrowly mixed (15¢ lower to 40¢ higher).
Choice boxed beef cutout value was 55¢ lower Tuesday afternoon at $207.07/cwt. Select was $1.06 lower at $197.87.
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