Live cattle futures rallied late to close steady to 25 cents higher on Friday. Feeder cattle futures were down a nickel to 35 cents in most contracts. The CME feeder cattle index was down 72 cents on May 10 at $137.21. Wholesale boxed beef values were lower on Friday afternoon. Choice boxes were a dime lower at $230.97, with Select boxes down 45 cents at $208.69. Weekly FI cattle slaughter was estimated at 645,000 head, down 2,000 head from last week but 26,000 head larger than the same week last year. Cash cattle trade was late to develop on Friday, but sales of $122-123 were reported in the afternoon vs. $126-128 the previous week.

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