Only 306 head (two lots, one from Kansas and one from Nebraska) were offered in the weekly Fed Cattle Exchange Auction. All sold for a weighted average price of $106/cwt., which was $2-$3 less than country trade in those regions last week.
That $106 also matched country prices in those regions on Wednesday. There were a few early dressed sales in Nebraska at $169-$170, which was also $2-$3 less than the previous week.
Despite that and technical pressure, Cattle futures mostly paddled in place, on an average basis.
After $1.10 higher in spot June, Live Cattle futures closed narrowly mixed, from an average of 18¢ higher to an average of 12¢ lower.
Feeder Cattle futures closed an average of 38¢ lower (12¢ to 85¢ lower).
Boxed beef cutout values were weak to lower on light demand and light to moderate offerings through Wednesday afternoon, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was $1.53 lower at $215.30/cwt. Select was 69¢ lower at $200.88.
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