Live cattle futures are experiencing losses, trading down $0.80 to $1.80 at midday on Friday, with cash trade opening at $247-248, marking a $7-8 decline from last week. The Fed Cattle Exchange online auction reported sales of $248-248.50 on 536 out of 1,356 head. Feeder cattle futures have also dropped, with prices down $2.50 to $2.75.
Wholesale boxed beef prices increased in the Friday morning report, with Choice boxes rising $3.09 to $383.90 and Select boxes up $6.16 to $369.63. The USDA reported Thursday’s federally inspected cattle slaughter at an estimated 112,000 head, totaling 430,000 head for the week, which is a decrease of 3,000 from the previous week and 35,480 below the same week last year.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
