Live Cattle and Feeder Cattle futures finished lock limit lower, triggering expanded limits for Monday, with Live Cattle futures' expanded limit at $10.75 and Feeder Cattle futures' at $13.75. The pressure on prices was attributed to a series of administration headlines aimed at lowering US beef prices. The U.S. President announced quadrupling beef imports from Argentina, while the USDA released a plan to help expand the domestic cattle herd from a 75-year low. Additionally, a Mexican ag minister is set to travel to Washington to discuss reopening the border to Mexican cattle amid a screwworm outbreak. Despite the futures market pressure, the wholesale cash beef side finished firmer, with choice cuts $2.49 higher to $373.14; select cuts $1.13 higher to $354.74.
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