Live cattle futures were $4.55 to $5.30 higher on the Friday session with December up $1.125 last week. Open interest dropped 1,161 contracts on Friday. Cash trade improved late last week with $220 in the South on Friday, with some northern trade at $215, up from the $208-210 seen in the first half. Feeder cattle futures were up $7.80 to $8.92on the Friday close, with August the lone contract up the $9.25 limit. Today’s price limits will be the normal $9.25. January was up $9.75 last week. The CME Feeder Cattle Index was down $3.20 to $318.76 on November 27, after dropping $8.92 on the 26th.
USDA reported Wholesale Boxed Beef prices lower in the Friday PM report, with the Chc/Sel spread widening back out to $15.77. Choice boxes were down $1.46 to $366.82, while Select was $4.46 lower at $351.05. USDA federally inspected cattle slaughter for the week was totaled at 501,000 head through Saturday. That was 31,898 head below the same holiday week last year.
