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Live cattle futures dropped between $5.70 and $6.25 on Friday, despite August holding a weekly gain of $2.42. With no deliveries for August, cash trade was reported at $245 in the northern U.S. and $235 in the South, showing a weekly decline of up to $2. The Fed Cattle Exchange auction saw bids between $240.50 and $245 for 220 of the 600 head offered.
Feeder cattle futures also experienced limit losses, prompting expanded trading limits to $13.75 on Monday. The CME Feeder Cattle Index rose by 24 cents to $337.21 on August 7. CFTC data indicated a reduction of 2,944 contracts in live cattle futures and options, with a total of 125,565 contracts remaining, while managed money in feeder cattle increased by 1,953 contracts to 37,079.
USDA reported wholesale boxed beef prices varied, with Choice boxes at $378.84 (down $0.10) and Select boxes at $355.09 (up $1.34). Cattle slaughter for the week was estimated at 536,000 head, an increase of 1,000 from the previous week but down 51,582 compared to the same week in 2024.
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