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Friday, June 23, 2017

2017 Fed cattle trade in the South was established from $120 to $123 this week, $7 to $9 lower compared to last week. The majority of trade however did occur between $121 and $122 this week. Trade in the North was established from mostly $121 to $123 this week, $7 to $11 lower compared to last week. Dressed trade in the North occurred from mainly $193 to $196, mostly $13 to $19 lower compared to the week prior. The first trade was the most profitable this week, with early Wednesday volume at the higher prices, and clean-up trade Thursday a few dollars lower. Boxed beef prices this week were down roughly $7 for Choice and $4 for Select. Feeder cattle were steady to $6 lower. Calves were $3 to $10 lower this week, with weak demand for lightweights and heifers. Market cows were steady to $1 higher. Corn prices broke almost 25 cents.

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Futures Market Summary

 

Nearby Elec. Contract Close Change High Low
Live Cattle $119.200 $0.570 $119.575 $118.525
Feeder Cattle $144.950 $1.500 $145.475 $143.700
Lean Hogs $85.300 $0.280 $85.350 $84.100
Milk Class III $16.35 $0.00 $16.37 $16.35
Corn $3.5775 ($0.0500) $3.6475 $3.5650
Soybean $9.0450 $0.0050 $9.0900 $9.0025

USDA Beef Complex

Item Price Change
Choice $239.75 ($3.13)
Select $216.72 ($0.20)
Drop Credit $11.89 $0.00

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