On Wednesday, live cattle futures fell by $2 to $2.20, with February futures closing at $234.525. Feeder cattle futures also declined, closing down $2.50 to $3.55, with January feeder cattle at $359.600. Open interest for live cattle increased by 214 contracts, while three lots were sold at a Fed Cattle Exchange auction at bids between $230 and $232.
USDA Wholesale Boxed Beef prices were mixed, with Choice boxes rising $3.03 to $3524.28 and Select boxes falling by $1.80 to $349.28. The Chc/Sel spread widened to $5.00. Tuesday’s federally inspected cattle slaughter was estimated at 115,000 head, bringing the week-to-date total to 348,000 head—up by 13,000 head from last week but down 9,543 head compared to the previous year.
