Cash fed cattle prices opened the week’s trade lower on Wednesday.
The weighted average price at the weekly Fed Cattle Exchange Auction was $117.75/cwt. on 92 head for 1-9 day delivery compared to $119.51 a week earlier. Another 337 head sold for delivery $117.25 (delivery 17-30 days). About 20% sold of the 2,093 head offered.
Country trade followed suit with early sales in Nebraska $1 less than the bulk of the previous week’s trade at $117.
Live Cattle futures closed an average of $1.72 lower ($1.35 to $2.20 lower).
Feeder Cattle futures closed an average of $3.05 lower ($1.47 to $3.87 lower).
Choice boxed beef cutout value was 31¢ lower Wednesday afternoon at $222.58/cwt. Select was $2.13 lower at $205.32.