Cattle markets finished the bullish week on a high note Friday, supported by increased cash fed cattle strength. Negotiated fed cattle prices for the week were mostly $4-$7 higher on a live basis at mostly $134.00-$137.50/cwt. Dressed trade was up to $10 higher week to week at $215-$220.
Other than spot Jun trying to catch up to the week’s hefty increase in cash trade, traders were content to square Live Cattle positions on Friday, while Feeder Cattle futures churned ahead.
Live Cattle futures closed $3.40 higher in spot Jun, and then an average of 10¢ lower, except for 60¢ and 35¢ higher at the back.
Feeder Cattle futures closed an average of $1.40 higher in the front three contracts , an average of 34¢ higher in the next three, and then 87¢ lower and $2.07 higher at the back.