Cattle futures lower ahead of holiday weekend

Chicago Mercantile Exchange live cattle futures were mostly lower ahead of the long holiday weekend, while feeders were pressured by the rally in corn. June live was down $.22 at $132.17 and August was $.20 lower at $132.40. August feeders were down $.35 at $166.32 and September was $.42 lower at $169.30.

Cash cattle trade was quiet on Friday with most business already wrapped up after Tuesday’s deals. Southern deals for the week came in mostly $1 lower than the prior week’s weighted averages at $137 while Northern dressed trade took place mostly at $223, $3 lower than last week’s weighted average basis in Nebraska.

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