"We've got the peak (beef) demand behind us and the cutout probably is in the process of topping." Demand for beef is expected to decline following a series of holidays when beef consumption typically rises, including Father's Day and the upcoming US Independence Day holiday. CME August live cattle settled 0.450 cent lower at 209.375 cents per pound after hitting its lowest point since May 28. The choice boxed beef cutout value dipped by 28 cents on Monday to $390.22 per cwt after falling $3.29 per cwt on Friday. CME feeder cattle bucked the weakness from live cattle to end firmer on the day, supported by still-tight supplies of animals, traders said.