Live cattle prices surged by $4 to $5.25 on Friday, with the Friday Fed Cattle Exchange auction reporting sales between $242 and $243 on 761 of the 1,602 head offered. Cash trade reached $240-241 in the north and $242-245 in the south. Feeder cattle futures also experienced significant increases, rising by $7 to $7.95.
Wholesale boxed beef prices rose as well, with Choice boxes increasing by $2.66 to $369.91, and Select boxes up $3.48 to $363.85. The USDA reported a federally inspected cattle slaughter of 114,000 head on Thursday, bringing the weekly total to 450,000 head. This marks an increase of 14,000 head compared to last week but is 23,336 head below the same time last year.
