Fri 22 Mar 2013 14:27:37 CT
June cattle closed 82 lower on the session and down 12 on the day. The market pushed moderately lower on the day into the mid-session with traders disappointed with the weak action for the boxed-beef market and with the cold weather forecast for next week in the central and eastern part of the country. The monthly Cattle-on-Feed report and Cold Storage reports will be released after the close and may influence the market next week. Traders are looking for a 9% drop in February placements, a 7% drop in February marketings and March 1st on-feed supply near 6 1/2% under last year. Poor grilling demand weather, a weak beef market and one less slaughter day next week has traders nervous that demand for live inventory next week will be sluggish. Boxed-beef cut-out values at mid-session came in at $192.17, down $.81 on the session and down from $195.42 last week at this time. Cattle slaughter came in below trade expectations at 111,000 head.
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