Friday markets
The cattle market eased into the weekend on a lower note.
Live cattle futures were lower, down 97 cents to $235.97 on the October contract and down $1.10 to $237.45 on the December contract.
Cash trade for the day totaled about 5,000 head. Live steers sold from $242-243, and dressed steers sold from $383-387. Total cash trade for the week so far is about 65,000 head.
Slaughter for the day is estimated at 118,000 head. With tomorrow’s slaughter projected at 6,000 head, total slaughter for the week is expected at 487,000 head, compared to 565,000 head a week earlier. This week also had one less slaughter day due to the Labor Day holiday.
Boxed beef prices were lower on 120 loads. The Choice cutout lost $3.45 to close at $410.76, and the Select cutout lost $2.58 to close at $385.19.
Feeder cattle
Feeder cattle futures were mixed, unchanged on the September contract to $359.82 and down $1.05 on the October contract to $357.90.
The CME Feeder Cattle Index lost $4.08 to close at $361.35.
“As time moves closer and closer to the end of September/early October, it will be interesting to see the sheer volume of calves traded at sale barns as more cattle were moved earlier this year,” ShayLe Stewart, DTN livestock analayst, wrote in her midday comments.
Corn futures were lower, down less than a penny to $3.99 on the September contract and down a penny on the December contract to $4.18. — Anna Miller Fortozo, WLJ managing editor
