By Austin Schroeder
Live cattle futures shrugged off the early session weakness, as futures posted strength on cash strength to close $2 to $3.45 higher. October rallied back $7.45 this week. There were no deliveries again for October live cattle again on Friday, with the oldest long dated July 31. Cash saw some northern dressed trade at $362, up $2, with live action at $234-235, up $4-5. Southern trade has been tallied at $235. Feeder cattle futures were weaker to start Friday, but rallied to close the session with gains of $1.47 to $2.90. October was up $18.32 this week. The CME Feeder Cattle Index was up another 57 cents at $367.92 on October 9.
USDA Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel spread at $19.18. Choice boxes were up 35 cents to $365.57, while Select was $2.06 higher at $346.39. USDA federally inspected cattle slaughter for this week was estimated to total 547,000 head. That is 15,000 head below last week and 38,337 shy of the same week last year.
Oct 25 Live Cattle closed at $238.475, up $3.450,