**Live Cattle Futures Update – April 28, 2023**
Live cattle futures closed the session on April 28 with contracts down 40 cents at $253.00, while June contracts fell $7.77 over the week. Cash trade started at $250-252 and rose to $256-257 midweek. Feeder cattle futures also saw losses ranging from 40 cents to $1.35, with August up $10.40 for the week. The CME Feeder Cattle Index rose by $1.56 to $374.03.
Managed money increased its net long position in live cattle futures and options by 1,796 contracts, totaling 136,591 contracts. Conversely, spec funds reduced their net long in feeder cattle futures by 1,676 contracts, bringing the total to 17,089 contracts. USDA estimated federally inspected cattle slaughter for the week at 534,000 head, which is 5,000 more than the previous week but 28,668 less than the same week last year.
Wholesale boxed beef prices were reported lower, with choice boxes down 41 cents at $389.11 and select down $1.12 to $388.05.
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