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Live cattle futures are experiencing gains of $2 to $2.75 across most contracts at midday on Friday, October 30, with cash trade prices shifting to $232 in the north and Southern sales nearing $235-237. Feeder cattle futures are also up, showing gains between $4 to $5.85. The CME Feeder Cattle Index has decreased by $4.75 to $347.25.
USDA Wholesale Boxed Beef prices report from Monday notes that Choice boxes increased by $1.42 to $379.55, while Select boxes rose by $2.29 to $360.94, resulting in a Chc/Sel spread of $18.61. The USDA reported a cattle slaughter of 559,000 head last week, which is 14,000 head lower than the previous week and 56,990 head shy compared to the same week last year.
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