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Live cattle futures fell between $1.37 and $2.00 on Monday, December 25, 2023, with Dec 25 Live Cattle closing at $214.200. Cash trade improved late last week, with prices reaching $220 in the South and $215 in the North, up from $208-210 earlier in the week. Feeder cattle futures declined by $1 to $2.90, with the CME Feeder Cattle Index rising 94 cents to $319.70.
The USDA reported an estimated 115,000 head of cattle slaughtered on Monday, which is 5,000 head below last week and 1,388 head less than the same period last year. In commodity sales, 10,886 MT of beef was sold in the week ending October 23, a five-week low, with shipments recorded at 12,684 MT.
Wholesale Boxed Beef prices increased, with Choice boxes up $2.07 to $368.89 and Select boxes rising $6.83 to $357.88. The Chc/Sel spread narrowed to $11.01.
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