Live cattle futures are currently trading higher, with increases ranging from 45 cents to $1.125 per contract. The USDA reported cash trade prices between $232 and $235, while the Thursday Fed Cattle Exchange auction, which offered 1,054 head, showed no sales but a few bids at $228. Feeder cattle futures also gained ground, with contracts rising between $1.42 and $2.07.
In related developments, Wholesale Boxed Beef prices increased on Friday morning, with Choice boxes up by $1.03 to $361.53 and Select boxes rising $5.82 to $347.15. USDA’s federally inspected cattle slaughter on Thursday stood at 102,000 head, bringing the weekly total to 407,000 head, down 4,000 from the previous week and 36,144 below the same week last year.
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