Live cattle futures experienced gains on Wednesday, with prices up between $0.75 and $1.32. A total of 20 deliveries were recorded, and preliminary open interest decreased by 1,808 contracts. Cash trade remained subdued, with north bids at $245 and light Kansas sales between $240 and $242. The Fed Cattle Exchange online auction reported 940 head listed but received no bids.
Feeder cattle futures increased as well, closing higher by $0.35 to $2.22. The CME Feeder Cattle Index rose by $1.51 to $360.68. USDA reported weaker wholesale boxed beef prices, revealing Choice boxes fell by $1.33 to $411.84, while Select boxes dropped $3.05 to $387.71. The USDA estimated Wednesday’s cattle slaughter at 119,000 head, with a total of 344,000 for the week, which is up 10,000 from the previous week but 14,906 lower than the same week in 2024.
