So far this week, negotiated cash fed cattle trade is running $1-$7 lower than last week at $130-$133/cwt., except for $135 in the western Corn Belt. Dressed trade so far is reported at $208-$215, which is $5-$8 less than last week. There were some trades reported in Kansas and Nebraska yesterday—as low as $128 live and as low as $205 in the beef—but too few transactions to trend.
Although wholesale beef values have yet to make a major break to the downside, the lower cash fed cattle prices and fretting over demand as summer heat intensifies weighed heavy on Cattle futures.
Live Cattle futures closed an average of $2.45 lower ($1.87 lower to limit-down $3.00).
Feeder Cattle futures closed an average of $3.77 lower ($3.00 to $4.40 lower).
Choice boxed beef cutout value was 16¢ lower Wednesday afternoon at $251.03/cwt. Select was 79¢ lower at $220.66.