Live cattle futures closed Friday with some strength, as contracts were up 90 cents to $1.12. February was down $1.15 this week. Cash trade picked up ahead of the holiday, with $229-230 sales reported, steady to $2 higher than last week. Feeder cattle futures were up $1.45 to $1.75 to close the week, with January 57 cents higher from last Friday. CME’s Feeder Cattle Index was back down $4.69 to $349.32 on December 25.
USDA Wholesale Boxed Beef prices were lower in the Friday afternoon report, with the Chc/Sel spread narrowing to $7.41. Choice boxes were down $3.41 to $351.21, while Select was $1.95 lower at $343.8025. USDA federally inspected cattle slaughter was estimated at 429,000 head for this week. That was well below last week, but 4,042 head shy of the same week last year.
