AUSTIN -- For the week ending May 25, feeder cattle prices reported by Texas auctions ranged from $5 lower to $3 higher per hundredweight (cwt) compared to the previous week. A few locations noted prices as much as $6 higher on a portion of their offerings. Texas direct feeder cattle sales were steady to $1 lower and the Oklahoma City National Stockyards were steady to $5 lower. Negative cattle feeding margins and lower feeder cattle futures continued to pressure the market. However, tight supplies and improved pasture conditions in some areas were also supportive. Fed cattle cash prices were $1 lower. Choice wholesale beef prices hit a new record-high of $211.37 per cwt on May 23, before declining on May 24. Beef exports for the year are down 17 percent from this time last year. . . .
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