Cash fed cattle were down again this week. The five-area weighted average steer price for the week ended Friday was $144.69, down $2.26 from the previous Friday, and dressed steers averaged $232.26, down $1.08. Live cattle sold at $143 in the Southern Plains on Wednesday. Also on Wednesday, in Nebraska, live and dressed sales were reported at $145-$146 and $230-$232, respectively. In the Western Cornbelt prices were at $144-$145 and $226-$230, respectively, for live and dressed.
Feeder steers and steer calves in Mississippi auctions this week were mostly $3-$5 lower and feeder heifers and heifer calves were $1-$2 higher on the week. Cull cows and bulls in Mississippi were mostly steady to a tick higher. The Oklahoma City auction took the Memorial Day holiday off.

Futures:
Live cattle futures started the holiday shortened week on a sour note but moved higher Wednesday and Thursday. Hangover from early reports of lackluster Memorial Day demand weighed heavy Tuesday, but steady cash and beef prices provided a lift mid-week. Friday's daily boxed beef report dipped and added pressure to futures to close the week out. Weakness in the corn market along with the mid-week strength in live futures pushed fall feeder futures close to the $2 mark and all current month's reached contract highs on either Thursday (for fall contract months) or Friday (for winter/spring contracts).
Corn futures continue to move lower. Improved weather is the primary culprit of the weakness in corn prices.

Beef:
Wholesale boxed beef prices were higher this week. Choice boxes averaged $233.44, up $2.96. Select boxes were $223.12, up $3.38.