Live cattle futures are experiencing declines between $1.00 and $1.70 on Friday, with June futures showing no deliveries issued. The cash trade remains quiet, with bids at $254, and the Fed Cattle Exchange reported no sales for 952 head. The CME Feeder Cattle Index rose $2.04 to $370.10 as feeder cattle futures dropped $1.30 to $1.50.
In a significant industry move, JBS announced the closure of its Souderton, PA slaughter plant, which has a capacity of nearly 2,000 head per day. On the wholesale front, Boxed Beef prices showed a slight decrease; Choice boxes fell 10 cents to $393.11, while Select remained 73 cents higher at $373.98. The USDA reported a cattle slaughter estimate of 105,000 head on Thursday, bringing the weekly total to 421,000 head, which is down 7,000 from last week and 36,768 head lower than the same week last year.
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