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On October 25, live cattle futures increased by 75 cents to $1.50, with no deliveries for October live cattle recorded. Cash trade remains slow, with a reported cash price of $230 in Iowa. The Fed Cattle Exchange auction had no sales on 1,866 head offered, as bids stood at $230. In contrast, feeder cattle futures rose by $4 to $4.60, closing at $369.50 for October feeders.
The USDA reported mixed wholesale boxed beef prices; Choice boxes increased by 19 cents to $366.16, while Select boxes decreased by $3.64 to $345.38, widening the Chc/Sel spread to $20.92. Wednesday’s federally inspected cattle slaughter was estimated at 118,000 head, totaling 335,000 head for the week, which is 13,000 head below last week’s figures and 24,512 head lower than the same week last year.
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