Live cattle futures closed mixed on Wednesday, with most contracts rising 37 to 82 cents; October futures decreased by 17 cents. Open interest increased by 669 contracts. Cash trade improved to $220, marking a $2 increase from Tuesday, while select dressed sales reached $345 in the northern markets. The Fed Cattle Exchange reported no sales for 2,000 head offered, with bids ranging from $218 to $220.
Wholesale Boxed Beef prices reported in the PM session were lower, with the Chc/Sel spread widening to $22.45. Choice boxes increased by $3.40 to $385.13, while Select rose $6.30 to $362.68. The USDA’s estimated federally inspected cattle slaughter for Wednesday was 105,000 head, bringing the weekly total to 310,000 head, up by 1,000 from the previous week but 35,746 head fewer than the same week last year.
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