Live cattle futures closed mixed on Friday, with front months steady to 37 cents lower and deferreds up 10 to 20 cents. October was up $2.475 on the week. Cash trade last week saw sales of $180-182 reported in the South, steady to $1 higher from the week prior, with the North steady to $1 higher at $181-182. Feeder cattle futures closed out the Friday session with contracts down 15 to 62 cents. September managed to head into the weekend with a $7.60 gain since last Friday. The CME Feeder Cattle Index was back up $1.42 at $243.32 on September 12. 

Spec funds in live cattle futures and options added just 632 contracts to their net long position as of 9/10 to 38,690 contracts. In feeder cattle they added 1,473 contracts to their net long position, at 2,029 contracts by Tuesday

USDA wholesale Boxed Beef prices were lower in the Friday PM report. Choice boxes were down $2.27 at $304.91, with Select $1.47 lower at $294.17. The Chc/Select spread narrowed to $10.74. That was the lowest value for Choice since the middle of May. USDA estimated last week’s federally inspected cattle slaughter at 620,000 head. That is well above the previous week due to the holiday but 11,200 head below the same week last year.

Oct 24 Live Cattle  closed at $177.650, down $0.375,

Dec 24 Live Cattle  closed at $178.500, down $0.100,

Feb 25 Live Cattle  closed at $179.600, down $0.000,

Sep 24 Feeder Cattle  closed at $241.900, down $0.150,

Oct 24 Feeder Cattle  closed at $239.125, down $0.625,

Nov 24 Feeder Cattle  closed at $235.200, down $0.275,