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Live cattle futures increased by $4 to $6.05 on Wednesday. Cash trade in the northern U.S. ranged from $208 to $210, with dressed trade at $330. On Wednesday’s Fed cattle online exchange, no sales occurred from the 2,052 head offered, with bids between $210 to $215. Feeder cattle futures rose by $8.25 to $8.90. The CME Feeder Cattle Index decreased by $4.41 to $331.97.
The USDA reported a total cattle slaughter of 125,000 head on Tuesday, bringing the week-to-date total to 245,000—8,000 head more than last week but 3,479 head fewer than the same week last year. Wholesale Boxed Beef prices showed a mixed trend, with Choice boxes down $1.45 to $368.64 and Select boxes up $2.55 to $358.48.
Managed money added 7,740 contracts to their net long position in live cattle futures, totaling 123,754 contracts as of October 14. In feeder cattle futures and options, speculators trimmed their net long by 493 contracts, bringing it to 25,524 contracts.
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