Negotiated cash fed cattle trade ended the week generally steady to $2 lower in the beef at $190-$192/cwt. Live sales were was $1 lower in the Southern Plains and Colorado at $124/cwt. Elsewhere, live sales were steady to $3 lower at $120-$122.
Cattle futures faded some of the heaviest selling pressure on Friday, but still closed mostly solidly lower as traders ponder the odds of whether or not the top in fed cattle is still coming or just behind.
Live Cattle futures closed an average of $1.78 lower through the front three contracts. After 77¢ lower in June, contracts were 12¢ lower to 10¢ higher.
Other than unchanged in spot Nov and 20¢ and 25¢ higher in the back two contracts, Feeder Cattle futures closed an average of 49¢ lower (32¢ to 67¢ lower).
Choice boxed beef cutout value was $1.11 higher Friday afternoon at $213.85/cwt. Select was $3.79 lower at $194.51.
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