Live cattle futures posted Friday gains of $1.42 to $2.50 in the nearbys, as deferred contracts were anywhere from a dime lower to 90 cents higher. Cash trade started slow this week, but got kicked off on Friday, with sales of $183 in the South, a $2-3 improvement on the week, with northern sales improving $2-3 to $184-185. Feeder cattle futures were mixed, with September down 45 cents and other nearby contracts 15 to 65 cents higher. The CME Feeder Cattle Index was back down $1.16 at $243.26 on September 19. 

The monthly Cattle on Feed report showed August placements down 1.4% from a year ago at 1.975 million head, in line with estimates. August marketings were also near the average trade guess at 1.818 million head, a 3.55% drop from last year. September 1 on feed inventory was up 0.64%at 11.198 million head. 

USDA wholesale Boxed Beef prices back higher in the Friday PM report. Choice boxes were back up 63 cents to claw back above the $300 level to $300.19/cwt, with Select 33 cents higher @ $288.59. The Chc/Select spread widened to $11.60. USDA estimated this week’s federally inspected cattle slaughter at 610,000 head, including Saturday. That is 10,000 head below the previous week on lower Friday and Saturday kill and 16,639 head below the same week last year.

Oct 24 Live Cattle  closed at $182.475, up $2.500,

Dec 24 Live Cattle  closed at $183.200, up $2.075,

Feb 25 Live Cattle  closed at $183.775, up $1.425,

Sep 24 Feeder Cattle  closed at $244.825, down $0.450,

Oct 24 Feeder Cattle  closed at $243.900, up $0.125,

Nov 24 Feeder Cattle  closed at $241.775, up $0.425,