Live cattle futures decreased by $1.47 to $2.05 across most contracts on Wednesday, despite a rise in beef prices. Cash trade saw transactions between $355-$360, but the Fed Cattle Exchange reported no sales for the 1,520 head offered, with only a single bid at $225. Feeder cattle futures also fell, down $2.37 to $4.92 at the day’s close.
Wholesale Boxed Beef prices showed mixed results, with Choice boxes increasing by $3.84 to $394.99 and Select boxes dropping by $2.12 to $364.17, widening the spread to $30.82. The USDA estimated Wednesday’s federally inspected cattle slaughter at 106,000 head, bringing the weekly total to 309,000 head, which is 1,000 head lower than the previous week and 25,007 head below the same week last year.
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