Futures traders awaiting direction from the week’s cash fed cattle trade were disappointed on Friday as the standoff between feedlots and packers continued through the afternoon with scant trade and too few transactions to trend.
Front-month Live Cattle drooped as traders squared positions for the end of the year, while firming wholesale beef values helped lift Feeder Cattle.
Choice boxed beef cutout value was 62¢ higher on Friday afternoon at $202.90/cwt. Select was $2.07 higher at $192.98.
Live Cattle futures closed an average of $1.12 lower in the front two contracts, including $1.55 lower in expiring Dec. Contracts across the rest of the board were narrowly mixed but mostly lower (32¢ lower to 30¢ higher).
Except for 25¢ lower in the back contract, Feeder Cattle futures closed an average of 55¢ higher (40¢ to 82¢ higher).
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