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Live cattle futures closed on a mixed note on Friday, with contracts ranging from steady to 25 cents lower, while deferreds rose 40 to 50 cents. For the week, October futures dropped $1.77. The cash trade settled at $235 in the North, down $3, and $235-237 in the South, also down $3. The Friday Fed Cattle Exchange auction showed no sales from the 2,144 head offered, with bids at $235-235.50. Feeder cattle futures gained $1.50 to $2.95, with the October contract up $2.90 this week.
According to the CFTC’s weekly Commitment of Traders report, spec traders reduced their net long position in live cattle futures and options by 2,844 contracts to 124,903 as of Tuesday. In feeder cattle, the net long position fell by 1,564 contracts to 24,327, with outright longs at their lowest since April.
USDA Wholesale Boxed Beef prices were lower on Friday, with Choice boxes down 54 cents at $371.43 and Select down $1.01 to $352.44. The estimated federally inspected cattle slaughter for the week was 555,000 head, 3,000 head higher than last week but 60,922 head lower than the same week in 2024.
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