Friday markets
“The livestock complex is trading mixed as trades are unsettled on how they should support the contracts ahead of the weekend,” wrote ShayLe Stewart, DTN livestock analyst, in her midday comments.
Live cattle futures were lower. The June contract lost 5 cents to close at $215.47, and the August contract lost 72 cents to close at $209.35.
Cash trade for the day was about 14,000 head. Live steers sold from $232-237, and dressed steers sold from $367-376.
Slaughter for the day is estimated at 117,000 head. With tomorrow’s slaughter projected at 5,000 head, total slaughter for the week is expected at 477,000 head, compared to 570,000 head a week earlier.
Boxed beef prices were higher on 85 loads. The Choice cutout gained 25 cents to close at $366.34, and the Select cutout gained $3.01 to close at $356.65.
Feeder cattle
Feeder cattle futures were also lower. The August contract lost $1.10 to close at $298.82, and the September contract lost $1.15 to close at $297.70.
“The positive bump that Thursday’s market saw is gone for the feeder cattle complex as traders simply seem unwilling to advance the contracts any more ahead of the weekend,” Stewart said.
The CME Feeder Cattle Index gained $1.66 to close at $297.75.
Corn futures were lower, down 3 cents on the July contract to $4.44 and down 4 cents on the September contract to $4.23. — Anna Miller, WLJ managing editor
