Cattle futures on the Chicago Mercantile Exchange were weaker on Friday, with chart-based positioning a feature as the market continued to back away from nearby record highs.
The United States Department of Agriculture reported weekly U.S. beef export sales of 16,600 tonnes, which was up 22 per cent on the week and 51 per cent ahead of the four-week average. Pork export sales came in at 23,700 tonnes, down 44 per cent on the week and 17 per cent below the four-week average.
October feeder cattle futures were down by 1.050 cents per pound at 357.900 cents per pound.
The October live cattle contract lost 0.975 cents per pound at 235.975 cents at the close.
The U.S. Department of Agriculture reported wholesale boxed beef prices were lower on the day, with choice boxes down $3.45 at $410.76 per hundredweight and select boxes down $2.58 at $385.19.
Lean hog prices were up 1.000 cents per pound in the October contract at 96.025 cents.
