Fed cattle prices fell US$/cwt 4-5

Sales in Texas and Kansas were at US$/cwt 199 while most live sales in the north were at US$/cwt 200 late last week. Dressed sales in the north were mainly at US$/cwt 315. Live prices have fallen US$/cwt 3-4 last week while dressed sales are 5 lower. Feelings are developing that both live and beef prices are searching for a bottom. Live prices have fallen US$/cwt 10 and packers are regaining leverage with three weeks of extremely small slaughter volumes, The AG Center said.