Live cattle futures declined $2.10 to $3.50 on Friday as a weaker equity market fueled a risk-off approach among traders. Cash trade this week has been reported at $235 in Texas and $233-238 in Kansas, with dressed beef at $380 in the North and light trade at $242 in Nebraska. Feeder cattle futures dropped $3.20 to $3.55 at midday. The CME Feeder Cattle Index rose $1.23 on June 11 to average $315.85.
USDA’s National Wholesale Boxed Beef prices moved higher Friday morning, with the Choice/Select spread at $13.22. Choice boxes gained 35 cents to $377.07, while Select rose 78 cents to $363.85 per hundredweight. Federally inspected cattle slaughter for Thursday was estimated at 115,000 head, bringing the weekly total to 456,000 head — 21,000 below the prior week and 32,969 below the same week last year.
Jun 25 Live Cattle are at $226.100, down $2.100,
Aug 25 Live Cattle are at $213.575, down $3.375,
Oct 25 Live Cattle are at $211.000, down $3.350,
Aug 25 Feeder Cattle are at $307.875, down $3.375
Sep 25 Feeder Cattle are at $307.175, down $3.375
Oct 25 Feeder Cattle are at $304.900, down $3.550
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