Live cattle futures showed mixed results on Friday, with contracts fluctuating from down 52 cents to up 37 cents. The October contract finished the week down $3.75, while feeder cattle futures decreased by $0.65 to $2, with September down $4.25 from the previous week. Cash trade reported dressed sales in the North at $350-355 and live sales at $222-223.
The USDA’s Cattle on Feed report revealed August placements at 1.617 million head, a record low for the month and 9.16% lower than last year, marking a 3.3% dip from estimates. On September 1, the total on-feed inventory was recorded at 11.163 million head, a modest 0.75% increase year-over-year. Meanwhile, the CFTC reported that managed money reduced its net long position in live cattle by 1,988 contracts to 45,262 contracts as of September 15.
Estimated federally inspected cattle slaughter for the week reached 529,000 head, which is 24,000 above the previous week but 30,270 below the same week last year. Wholesale boxed beef prices reflected mixed trends, with Choice boxes down 21 cents to $371.94 and Select boxes up $1.38 to $353.26.
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