A clearing ahead of the USDA's monthly feeder cattle report , released after the close, also contributed to weakness.
The market was supported by rising beef prices before prime beef fell on Friday.
Beef demand is expected to decline following a series of holidays when beef consumption typically rises, including Father's Day and the upcoming Independence Day holiday .
The benchmark August contract closed 1.850 cents lower at 209.825 cents a pound, its lowest since June 3. Prime beef fell $3.29 a hundredweight Friday to $390.50 after rising $28.71 since June 6, according to U.S. Department of Agriculture data.
After the close, the USDA reported that U.S. feeder cattle shipments through June 1 were down 1% from a year ago, in line with trade estimates, while May placements were down 8%, a larger drop than expected.
CME feeder cattle fell along with live cattle, giving up initial gains tied to the continued suspension of Mexican imports over beef concerns.New World flies south of the border. The U.S. Department of Agriculture announced new control plans Wednesday as blowflies move north into Mexico. The August feeder cattle contract fell 1.725 cents to 302.450 cents a pound.
WEEKLY COST OF CUT OUT CAT.CHOICE
CATTLE SALES
Sale of cattle, heads
Average weight
Week 24
Week 25
Growth per week,%
Week 24
Week 25
Growth per week,%
Bulls (live weight)
9 905
11 405
15.1%
1,467
1,490
1.6%
Heifers (live weight)
4 886
4 040
-17.3%
1 335
1 355
1.5%
Bulls (slaughter weight)
9 523
10 988
15.4%
989
983
-0.6%
Heifers (slaughter weight)
1 822
2 780
52.6%
878
869
-1.0%
WEEKLY WEIGHTED AVERAGE BULL PRICE
BEEF PRODUCTION
Indicator
Week 24
Previous week
A year ago
Growth per week,%
Growth per year, %
Volume of cattle slaughter
558,000
582,000
615,000
-4.1%
-9.3%
Live weight
1 423
1,425
1 390
-0.1%
2.4%
Slaughter weight
871
872
847
-0.1%
2.8%
Beef Production (million pounds)
485,0
506.0
520,0
-4.2%
-6.7%
WEEKLY CHOICE/SELECT PRICE SHOULDER
CME: Live Cattle Futures
Week 24
Week 25
Growth per week,%
June
225.10
223.03
-0.9%
August
212.45
209.83
-1.2%
October
209.92
207.35
-1.2%
CME: Feeder Cattle Futures
August
306.43
302.45
-1.3%
September
305.60
302.23
-1.1%
October
303.35
300.35
-1.0%
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