**Live Cattle Futures Decline Amidst Quiet Cash Trade**
On Wednesday, live cattle futures fell by $1 to $1.25 amid sluggish cash trade, with $359 dressed sales reported following last week’s range of $225-228 live and $362-368 dressed. The Fed Cattle Exchange’s online auction revealed no sales from the 1,520 head offered, with one bid at $225. Feeder cattle futures also decreased, ranging from $1.40 to $2.85 lower. As of today, the CME Feeder Cattle Index sits at $343.55, down 88 cents from August 17.
Wholesale Boxed Beef prices varied; Choice boxes increased by $4.13 to $395.28, while Select dropped by $1.50 to $364.79, widening the Choice/Select spread to $30.49. According to the USDA, Tuesday’s federally inspected cattle slaughter was estimated at 106,000 head, bringing the week’s total to 203,000, which is 1,000 head higher than last week but 15,217 head lower than the same week last year.
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