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Boxed beef cutout values this afternoon were lower on Choice and Select, USDA said.

  • Choice fell 71 cents to $215.38/cwt.
  • Select went down $1.17 to $204.51.

In negotiated cash sales in Iowa/Minnesota, the USDA reported 38 head sold dressed at $162, with 267 sold live at $104. There were no reported sales in Nebraska.

“Traders are still nervous that increasing weights and increasing slaughter could overwhelm current beef demand, but there is some optimism that the rallying stock market could help to support beef demand,” Stewart-Peterson said.

“While the technical action has been positive, the market faces the outlook for increasing production just ahead,” The Hightower Report said.

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