On Wednesday, live cattle futures experienced losses ranging from $1.44 to $1.55, amid a quiet early cash trade with sales around $246 in Kansas. The Fed Cattle Exchange reported no sales for the 1,226 head offered, with bids between $246 and $246.50. Feeder cattle futures also showed declines of 17 cents to $1.55 at midday, with the CME Feeder Cattle Index dropping $1.32 to $374.37.
In related news, the USDA estimated federally inspected cattle slaughter at 111,000 head on Tuesday, bringing the week’s total to 208,000 head, which is down 8,000 from last week and 17,274 from the same week last year. Wholesale boxed beef prices were mixed, with Choice boxes increasing by $1.09 to $385.09 and Select boxes up by $3.06 to $390.26.
Additionally, the Tuesday update from APHIS reported 1,395 active cases of New World Screwworm in Mexico, with 102 cases in Tamaulipas and 5 in Nuevo Leon.
