Live cattle futures closed Friday with modest gains of 15 cents to $1, though December contracts posted a weekly decline of $2.20. Feeder cattle futures also advanced $1.50 to $2.10, with the CME Feeder Cattle Index rising to $343.73. Conversely, USDA Wholesale Boxed Beef prices weakened on Friday, narrowing the Choice/Select spread to $16.49, while federally inspected cattle slaughter increased week-over-week to 576,000 head, remaining below last year's volume.
Live cattle futures exhibited a mixed performance, closing Friday with modest gains ranging from $0.15 to $1, yet the December contract recorded a $2.20 weekly decline. Conversely, feeder cattle futures showed stronger momentum, advancing $1.50 to $2.10 at Friday's close, with the January contract securing a 97-cent weekly gain, further supported by the CME Feeder Cattle Index rising $1.31 to $343.73. Wholesale boxed beef prices softened on Friday, with Choice boxes down $2.84 to $370.73 and Select down $0.79 to $354.24, narrowing the Choice/Select spread to $16.49. This weakening in wholesale prices occurred alongside an increase in federally inspected cattle slaughter, which reached 576,000 head, up 16,000 from the prior week but still 32,810 head below the same period last year. The divergence between the resilience in feeder cattle futures and the softening wholesale beef market suggests potential margin compression for processors or evolving demand signals. The uptick in weekly slaughter volume, despite being lower year-over-year, indicates a short-term increase in available supply, which could exert downward pressure on live cattle prices if demand does not keep pace.
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