Live and cattle futures on the Chicago Mercantile Exchange retreated for a second session, while lean hogs extended their rally.
The August live cattle contract declined by 12.5 U.S. cents per hundredweight to end the day at US$223.550 and showing a weekly gain of US$1.350. October live cattle lost 50 cents/cwt. to close at US$219.825, which was up 12.5 U.S. cents from July 11.
August feeder cattle retreated by US$1.000/cwt. at US$324, down US$1.325 from a week earlier. September feeder cattle fell by US$1.225/cwt. to end Friday at US$324.200, down US$1.20 week-by-week.
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For the week ending August 30, Western Canadian feeder cattle markets traded $4-$8/cwt higher on average. Quality yearling and calf packages were up as much as $15/cwt in some cases.
Prices for choice boxes improved by 27 cents at US$373.55 as of this afternoon, while those for select boxes declined US$2.35 at US$351.49, according to the United States Department of Agriculture.
The USDA estimated weekly cattle slaughter as of July 17 at 458,000, down 20,000 from the same week last year.
August lean hogs made gains for the fourth consecutive day, adding 65 U.S. cents/cwt. to close at US$106.475 for a weekly gain of US$1.80. October lean hogs rose for the third straight session by 2.5 U.S. cents/cwt. at US$90.625, down 2.5 cents from the week before.
The USDA reported the weekly hog slaughter as of July 17 at 1.87 million, down 38,000 from one year ago.
