Live cattle futures rose by 70 to 95 cents on Wednesday, with cash trade showing bids at $236 after stabilizing last week at $233 to $236.50. Feeder cattle futures also gained, increasing between $1.10 and $2.50. The CME Feeder Cattle Index was reported at $364.73, up by $1.16.
The USDA’s wholesale Boxed Beef report revealed mixed results, with Choice boxes up $1.14 to $369.25 and Select boxes down $1.46 to $363.73. Tuesday’s federally inspected cattle slaughter reached an estimated 112,000 head, totaling 212,000 for the week—7,000 below last week and 24,878 fewer than the same time last year.
