Live cattle futures rose by 60 cents to $1.40 on Wednesday, with August contracts closing at $184.60, October at $182.13, and December at $181.60. Cash trade remains inactive this week, with last week’s rates at $185-187 in the South and $193 in the North. The Central Stockyards Fed Cattle Exchange reported no sales for the 944 head listed, with bids at $185 live and $186-187 for their BidTheGrid™ method. Feeder cattle futures also saw gains, closing up $1.42 to $2.17.
According to the USDA, Wednesday’s wholesale Boxed Beef prices fell, with Choice boxes at $314.64 (down $2.05) and Select products at $300.50 (down 11 cents), narrowing the Chc/Select spread to $13.38. The USDA estimated a slaughter of 122,000 head for the day, totaling 356,000 for the week, which is a decrease of 7,000 from the previous week and 10,991 from the same week last year.
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