Live cattle futures rose between 80 cents and $1.12 on Friday, with cash trade recording sales of $229-230—steady to $2 higher than the previous week. The Fed Cattle Exchange auction on Wednesday sold 827 of 1,734 head offered at the same price, including a lot of 40 head sold at $355 dressed. Feeder cattle futures increased by $1.75 to $41.25 at midday, with CME’s Feeder Cattle Index up $1.32 to $354.40.
USDA reported Friday morning that Wholesale Boxed Beef prices declined, with Choice boxes dropping $3.33 to $351.29 and Select boxes down 50 cents to $345.25. The Chc/Sel spread widened to $6.04. Cattle slaughter for Wednesday was estimated at 43,000 head, with a total of 287,000 head for the week so far, which is 62,000 head lower than the previous week but exceeds the same week last year.
