Beef Prices Drop $39 On Border News

An article on BEEF Magazine

Cattle futures spent most of the past month under pressure from softening cash fundamentals, as both the boxed beef cutout and the CME Feeder Cattle Index continued to work lower, reinforcing the broader downtrend.

The Feeder Cattle Index has fallen $32.21 since its June 24 high and is now sitting at the lowest level of the calendar year. Boxed beef cutout values followed a similar path — choice values peaked at $400.31 on June 23 before sliding $39.07 to $361.24. This deterioration in cash fundamentals explains why futures struggled to find support.

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