Cattle futures mostly edged higher on Friday, attributed by many analysts to position squaring and short covering. Stabilizing prices were welcome news, whatever combination of reasons.
After 80¢ lower in spot Jun, Live Cattle futures closed an average of 43¢ higher (2o¢ to 67¢ higher).
Feeder Cattle futures closed an average of 74¢ higher (42¢ to 95¢ higher).
Choice boxed beef cutout value was 10¢ higher Friday afternoon at $249.84/cwt. Select was 73¢ lower at $219.80.