Cattle Falling Back Under Pressure on Friday

Live cattle futures are down about $1 to $1.20 across the front months. Cash trade this week has been roughly $220 to $345, while the Friday Fed Cattle Exchange auction posted dressed sales of $342 on 40 head and additional sales of $223 on 174 head. The pricing spread suggests demand/settlement volatility and a near-term bearish bias for cattle futures.