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Live cattle futures closed higher on October 6, 2023, with gains between $2 and $3.45, driven by cash strength. October futures rose $7.45 this week, while feeder cattle futures increased by $1.47 to $2.90, totaling an $18.32 weekly gain for October. The CME Feeder Cattle Index was reported at $367.92 on October 9.
USDA’s Friday report showed choice boxed beef prices up 35 cents at $365.57, with select prices rising $2.06 to $346.39. The Chc/Sel spread was $19.18. Cattle slaughter for the week was estimated at 547,000 head, which is 15,000 below last week and 38,337 less than the same week last year.
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