CHICAGO, Sept 11 (Reuters) - Chicago Mercantile Exchange live and feeder cattle futures ended higher on Friday on support from a strengthening cattle market and a bout of short covering ahead of the weekend in a bounce off of last week's lows.
CME October live cattle settled 1.85 cents higher to 219.675 cents per pound. CME October feeder cattle rose 4.95 cents to 332.5 cents per pound.
Boxed beef prices have been relatively resilient, though traders are continuing to assess consumer demand for beef, which is typically one of the priciest proteins available at stores and restaurants.
Inflation and high gas prices in particular have led to concerns that consumers will trade down from beef to cheaper proteins to save money.
"With gas prices still elevated, that's a concern moving forward here," said Austin Schroeder, analyst at Brugler Marketing.