Live cattle futures rose between 52 cents and $1.32 on Wednesday, with the June 26 contract closing at $256.00, and the Aug 26 contract at $246.525. Open interest dropped by 1,801 contracts, while cash trade reported light activity at $260 for live cattle and $408 for dressed in the northern regions. The Fed Cattle Exchange auction offered 1,636 head, but saw no sales, with bids at $255.
Additionally, the USDA’s APHIS confirmed three new cases of new world screwworm in Terrell County, Texas, bringing the total to 19 cases, with 16 currently active. In beef market activity, wholesale boxed beef prices decreased with choice boxes down $1.37 to $398.94, and select boxes down $2.92 to $378.14. The USDA estimated Wednesday’s cattle slaughter at 108,000 head, totaling 324,000 for the week, marking an increase of 7,000 head from the previous week but down 20,364 head from the same week last year.
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