Live cattle futures surged on Wednesday, with contracts increasing by $2.60 to $5.10 amid new buying activity, totaling 6,394 contracts. Cash trades reported sales at $260 in the South and $408-410 in the North, while the Fed Cattle Exchange online auction saw sales between $260 and $261.50 for 552 out of 1,104 heads offered.
Feeder cattle futures also gained, ranging from $1.42 to $4.37 at the close. The CME Feeder Cattle Index dropped by $1.48 to $374.37. In terms of production, the USDA estimated Wednesday’s federally inspected cattle slaughter at 108,000 head, pushing the weekly total to 318,000 head—5,000 more than last week but 20,727 less than the same week last year.
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