Cattle futures finished on a weaker note today, though feeders were able to hold onto recent gains. March feeders traded $3 lower on Friday to close at $354.70 per cwt. Prices were mostly unchanged for the week, holding onto last week’s $12 gains.

The CME Feeder Cattle Index gained over $12 this week, climbing to $367.90. The index retraced about 80 percent of its losses after falling to a five-month low in November. There has been a significant amount of buying interest since the dust settled after President Trump’s comments toward lowering beef prices this fall.

Feeders have been the clear lead of the complex, as live cattle trickled lower this week. February live cattle traded $1.50 lower on Friday to $233.72. Weekly traded $2.27 lower than last Friday’s close.

Live cash cattle trade this week brought the USDA’s price index above $230 for the first time since falling sharply in November. Trade was light on Friday, but live deals were marked around $233.

A strong stock market did little to support cattle futures this week despite the S&P 500 rising to new all-time highs.

Boxed beef prices traded higher this week despite pulling back slightly on Friday. The choice cutout rose about $5 to $355.63 per cwt.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.