Friday markets
The cattle markets closed lower heading into the Labor Day weekend.
Live cattle futures were lower, down $1.35 on the October contract to $212.95 and down $1.40 on the December contract to $214.72.
Cash trade for the day totaled about 9,200 head. Live steers sold from $215-222, and dressed steers sold for $343. Total cash trade for the entire week through the afternoon was about 50,000 head.
Slaughter through the day totaled about 97,000 head, compared to 103,000 head a week earlier. With tomorrow’s slaughter expected at 17,000 head, total slaughter for the week is projected at 526,000 head, compared to 542,000 head a week earlier.
Boxed beef prices closed mixed on 94 loads. The Choice cutout lost 73 cents to close at $376.17, and the Select cutout gained $5.15 to close at $355.87.
“The sharp increase in slaughter volume combined with the end of Labor Day buying sent the Choice boxes lower at week’s end,” the Cattle Report wrote. “The status for fed supplies will remain tight through year end and the industry will be watching how the plant closings and beef imports change the leverage between processor and feeder.”
Feeder cattle
Feeder cattle futures were lower, down $1.02 to $324.82 on the September contract and down 95 cents to $320.15 on the October contract.
The CME Feeder Cattle Index lost 91 cents to close at $328.27.
Corn futures were lower, down 3 cents on the September contract to $5.12 and down 4 cents on the December contract to $5.36. — Anna Miller Fortozo, WLJ managing editor
