Friday markets
The cattle market traded into the weekend on a mostly sideways note.
Live cattle futures were mixed, up 15 cents to $196.75 on the February contract and down 17 cents to $197.50 on the April contract.
Cash trade for the day was about 8,200 head. Live steers sold from $200-206, and dressed steers sold from $322-330. Total cash trade for the week so far is about 72,000 head.
“No more cash cattle sales have been noted and although it’s likely that some light movement may happen here or there in terms of clean-up sales, it’s looking like the vast majority of the trade is done for this week,” ShayLe Stewart, DTN livestock analyst, wrote in her midday comments.
Slaughter for the day is estimated at 114,000 head. With tomorrow’s slaughter projected at just 1,000 head, total slaughter for the week is expected to be about 603,000 head.
Boxed beef prices were higher on 122 loads. The Choice cutout gained 28 cents to close at $333.69, and the Select cutout gained 45 cents to close at $319.83.
Feeder cattle
Feeder cattle futures were higher, the January contract was up 5 cents to $273.50 and the March contract was up 32 cents to $268.05 on the March contract.
The CME Feeder Cattle Index gained 27 cents to close at $278.31.
Corn futures closed higher, up 9 cents to $4.84 on the March contract and up 10 cents to $4.93 on the May contract. — Anna Miller, WLJ managing editor
