A wide spread between cattle in the North and those from the South continues. The North saw moderate trade at $190 per cwt. live and $301 to $304 dressed, $2 lower live and $4 lower dressed compared to the previous week. Light to moderate trade in the South at $186 live, $1 lower than last week.
Feeder cattle sold $4 higher and calves sold $1 lower to $5 higher. Market cows traded mixed at $2 lower to $5 higher.
Wholesale beef prices moved higher for the week. Choice boxed beef closed Friday at $313.20 per cwt., up $3.36 for the week. Select boxed beef sold at $301.71, up $1.63 for the week.
At the CME, August live cattle futures fell $1.325 to $178.45, near the session low and hit a two-week low. For the week, August live cattle dropped $2.675. August feeder cattle futures lost $2.675 at $256.40, nearer the session low, hit a two-week low and on the week were down $3.825. The three-session losing streak in cattle futures markets, including Friday’s technically bearish weekly low closes, set the stage for follow-through chart-based selling pressure early next week.
