Fed cattle prices down

Fed cattle show lists reflect two different conditions. All regions posted larger show lists. This indicated an added incentive by producers to pull cattle forward to capture the unusually large positive basis. Larger show lists also tip off smaller inventories held by the packers resulting from a small buy last week. The trade expects another small slaughter volume this week. Cattle traded in both Texas and Kansas last week at US$/cwt 206 while northern live sales were mostly at US$/cwt 208. Dressed prices in the north were mainly US$/cwt 328. All prices were US$/cwt 2 lower, according to The AG Center report.