The fed cattle market was not fully established in the North as of press
time but the market tone was $8 to $10 higher for the week. On a dressed basis,
cattle traded in a range of $248 to $252 and mostly $160 to $163 live. In the
South, live cattle traded at $163, $8 higher than the previous week.
Boxed beef prices were modestly mixed for the week as Choice product closed
higher and Selects closed lower, widening the spread. Feeder cattle were $2 to
$10 higher for the week; calves were $4 to $10 higher against a limited number
of receipts due to the extended holiday weekend. Slaughter cows were steady to
$2 higher compared to last week.
Corn traded several cents lower last week as it broke out of its 6-week
trading range to the downside, as record large crop expectations continue to
apply downward pressure.
Check out today's Chart of the Day. For recent
market news and analysis, visit CattleFax.com.
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