Friday markets
The cattle market rallied to close higher heading into the weekend with cash trade finally taking place today.
Live cattle futures were higher over the day. The October contract gained $1.85 to close at $219.67, and the December contract gained $2.62 to close at $222.22.
Cash trade for the day totaled about 29,000 head. Live steers sold from $220-225, and dressed steers sold from $345-355.
Slaughter through the day is estimated at 106,000 head, compared to 97,000 head a week earlier. With tomorrow’s slaughter projected at 70,000 head, total slaughter for the week is expected to be 505,000 head, compared to 526,000 head last week.
Boxed beef prices were mixed on 104 loads. The Choice cutout lost $2.43 to $375.94, and the Select cutout gained $1.07 to close at $353.13.
Feeder cattle
Feeder cattle futures gained several dollars, up $5.25 on the September contract to $337.82 and up $4.95 on the October contract to $332.50.
The CME Feeder Cattle Index gained $1.53 to close at $328.96.
Corn futures were lower, down 3 cents apiece on the September and December contracts to close at $5.10 and $5.30, respectively. — Anna Miller Fortozo, WLJ managing editor
