Early follow-through support faded in Cattle futures yesterday, leading to a marginally lower close. The week’s negotiated cash fed cattle trade remained undeveloped through late afternoon.
Except for 7¢ higher in spot Jun and 2¢ higher in Apr, Live Cattle futures closed an average of 14¢ lower.
Other than 50¢ and 10¢ higher at the back of the board, Feeder Cattle futures closed an average of 39¢ lower.
Boxed beef cutout values were weak on Choice and steady on Select, with light to moderate demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 56¢ lower in the afternoon at $226.41/cwt. Select was 24¢ lower at $203.41.
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