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Live cattle futures saw gains between 15 cents and $1 on Friday, despite December futures declining by $2.20 for the week. Cash trade prices ranged from $225 to $228, with Northern sales reported at $218-222. Feeder cattle futures also increased, with January prices gaining $0.97 last week, while the CME Feeder Cattle Index rose by $1.31 to $343.73 on November 13.
On the same day, the White House announced a reduction in tariffs on several food import items, including beef, although Brazil still faces a 40% tariff. The USDA’s report indicated that wholesale boxed beef prices fell, with Choice boxes decreasing by $2.84 to $370.73, and the Select category down by 79 cents to $354.24. Last week’s federally inspected cattle slaughter totaled 576,000, 16,000 more than the previous week but 32,810 less than the same week last year.
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