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Live cattle futures are experiencing losses of 62 to 87 cents across most contracts as of midday. Cash activity remains subdued with light bids at $242. The Fed Cattle Exchange auction today reported sales on 398 out of 1,238 heads offered at prices between $242 and $242.50. Feeder cattle futures are down by $2.20 to $2.25 in upcoming months, while the CME Feeder Cattle Index increased by $1.05 to $365.52 on September 1.
The USDA reported an increase in Wholesale Boxed Beef prices on Wednesday, with Choice boxes up by $2.63 to $416.05 and Select boxes up $1.59 to $387.76. The Chc/Sel spread is now at $28.29. Estimated cattle slaughter on Tuesday was 120,000 head, which is 2,000 higher than last week, yet 6,291 lower compared to the same Tuesday in 2024.
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