US fed cattle prices posted a sharp correction last week as lower futures and weaker boxed beef values pressured the cash market. Live cattle traded at US$/cwt 248 across all major regions, down US$/cwt 7 from the previous week, while dressed cattle sold at US$/cwt 393, a decline of US$/cwt 10. Although processors improved slaughter margins through lower cattle purchase costs, retail beef demand remained soft for most of the week, according to The AG Center report.
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