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Cattle futures closed $1.25 to $2.00 lower, with packers pulling in their horns because of retreating beef prices and at least a temporarily improvement in cattle being offered. The dollar continues to rally, which drives negative sentiment toward the beef export market.Feeders were also sharply lower, down $2.20 to $3.00 (limit).Choice boxes were down $1.36/cwt in the pm USDA report, with Select product down $0.84/cwt. Cash cattle activity has been light, with some sales confirmed in NE at $242-243 and rumors of $152 trade on a live basis. Those would be $2-3 lower than last week, but are only limited volume and may not be representative. The trade average guess for Friday’s Cattle on Feed report has numbers at 97.21% of year ago on August 1, with July placements down 9.5% from last year.
Aug 14 Cattle closed at $149.250, down $1.250,
Oct 14 Cattle closed at $145.400, down $1.825,
Dec 14 Cattle closed at $148.450, down $2.000,
Aug 14 Feeder Cattle closed at $214.950, down $2.200
Sep 14 Feeder Cattle closed at $211.250, down $3.000
Oct 14 Feeder Cattle closed at $210.375, down $3.000