Live cattle closed the Friday session, with contracts up 20 to 40 cents across the board. The USDA saw some light to moderate Thursday cattle trade at mostly $138 in NE and $135 in the South, WCB sales were $144-$145 on Friday. Feeders were helped by the late weakness in corn, as contracts were up 70 cents to $1.35.  The CME Feeder Cattle Index was down 24 cents to $172.31 on 7/28. 

USDA’s Wholesale Boxed Beef prices were higher on Friday afternoon. Choice boxes were up $1.47 at $269.24, with Select $1.44 higher to $242.25. The Chc/Sel spread ticked up to $26.99. USDA estimates FI cattle slaughter as 669,000 head for the week through Saturday. That compares with 665k head last week and 646k head during the same week last year. 

Commitment of Trade data showed managed money nearly doubling their net long position in live cattle futures to 37,505 contracts as of 7/26, a 17,840 contract jump on the week. 

Aug 22 Cattle  closed at $136.450, up $0.275,

Oct 22 Cattle  closed at $142.225, up $0.400,

Dec 22 Cattle  closed at $148.150, up $0.375,

Aug 22 Feeder Cattle  closed at $178.575, up $1.150

Sep 22 Feeder Cattle  closed at $181.550, up $1.350