Live cattle futures declined at the close on Friday, with contracts falling between $2 and $2.30, and October futures down $6 for the week. Cash cattle prices settled at $240 nationwide, a decrease of $2 from the previous week. Feeder cattle futures dropped significantly, with September futures down $9.42 this week, closing at $350.400, while October and November fell to $345.800 and $343.250, respectively.
As of Tuesday, managed money increased their net long position in live cattle futures and options by 561 contracts, bringing the total to 131,003 contracts. Conversely, speculators reduced their net long position in feeder cattle by 2,739 contracts, now at 25,636 contracts. The USDA reported a drop in wholesale boxed beef prices, with Choice boxes at $400.04 (down 75 cents) and Select at $378.44 (down $1.51). Estimated federally inspected cattle slaughter for the week was 561,000 head, a decrease of 62,990 from the same week in 2024.
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