Cash fed cattle trade last week ended up mostly $2-$3 higher in the Southern Plains at mostly $124/cwt. Live trade in Nebraska was mostly $4 higher at mostly $126; steady to $3 higher in the beef at $195-$198. Live trade in the western Corn Belt was mostly $1 higher at mostly $123-$126; mostly steady to $2 higher in the beef at mostly $195-$197
That and significantly higher wholesale beef values should help maintain the market stability established last week. Cattle futures closed lower on Monday with light trade, but apparently due to position squaring at the end of the month, rather than a directional shift.
Live Cattle futures closed an average of $1.25 lower (70¢ to $1.87 lower).
Feeder Cattle futures closed an average of $1.87 lower ($1.60 to $2.05 lower).
Choice boxed beef cutout value was $2.68 higher Monday afternoon at $224.42/cwt. Select was 47¢ higher at $204.79.
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