The fed cattle market ranged
from steady to $1.00 lower last week with the weakness in the North. In
the South, cattle traded at $123 with some as high as $123.50. The bulk of the
trade North was at $124 live and $195 to $196 on a dressed basis.
Boxed beef was modestly lower
last week as demand hit a lull due to hot weather in much of the country, as
well as buying for the holiday coming to an end. Feeder cattle values were
steady to $3.00 lower while calves traded in a wide range from $3.00 higher to
$3.00 lower.
Corn traded sharply higher
early in the week which hampered replacement cattle values. Overall volume
remained light. Slaughter cows were steady for the week. Trimmings are offering
little support to cow prices at this point.
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