Live cattle futures gave back some of last week’s strength on Friday, with contracts down $1.05 to $1.625 at the close. August was down just 47 cents last week. Friday’s open interest was up just 386 contracts. Cash trade finally picked up on Friday, to $255 across the country, with some picking up to $256 in the North. Feeder cattle futures posted Friday losses of $1.77 to $2.30 at the close, with August holding up $3.525 last week. OI Rose 485 contracts on Friday. The CME Feeder Cattle Index was back down $2.09 on June 10 to $368.01.
JBS announced a planned closure of its Souderton, PA slaughter plant on Friday. The plant has a kill capacity that tops 2,000 head/day.
