Live cattle futures shrugged off the early session weakness, as futures posted strength on cash strength to close $2 to $3.45 higher. October rallied back $7.45 this week. There were no deliveries again for October live cattle again on Friday, with the oldest long dated July 31. Cash saw some northern dressed trade at $362, up $2, with live action at $234-235, up $4-5. Southern trade has been tallied at $235. Feeder cattle futures were weaker to start Friday, but rallied to close the session with gains of $1.47 to $2.90. October was up $18.32 this week. The CME Feeder Cattle Index was up another 57 cents at $367.92 on October 9.
USDA Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel spread at $19.18. Choice boxes were up 35 cents to $365.57, while Select was $2.06 higher at $346.39. USDA federally inspected cattle slaughter for this week was estimated to total 547,000 head. That is 15,000 head below last week and 38,337 shy of the same week last year.
