Live cattle futures experienced declines ranging from $1.30 to $2.82 on Wednesday. Cash trade saw light northern sales between $378-$380 dressed and live sales reported at $235-$240 by USDA. Feeder cattle futures also dropped, with losses between 47 cents to $2.80; however, August futures gained $1.15. The CME Feeder Cattle Index rose by $2.10 to $370.32.
Wholesale Boxed Beef prices fell further, with Choice boxes down $2.67 to $371.28, and Select boxes down $5.23 to $359.18. USDA reported a federally inspected cattle slaughter of 108,000 head for Tuesday, totaling 324,000 head for the week to date, which is an increase of 6,000 head from the previous week but 20,855 head lower than the same period last year.
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