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Live cattle futures fell by $2.35 to $2.65 on Wednesday, with October 25 Live Cattle closing at $231.10. Cash trade remains stagnant, with reported Southern sales at $239. The Fed Cattle Exchange held an online auction with no sales for 1,250 head, and feeder cattle futures decreased by $3.30 to $5.30, with the CME Feeder Cattle Index down 27 cents to $361.36.
The USDA is set to release the Cattle on Feed report on Friday, projecting August placements to decrease by 9% compared to last year, with the September 1 on-feed data estimated to be down 0.9% year-on-year. In slaughter data, an estimated 120,000 cattle were processed on Wednesday, bringing the weekly total to 351,000, which is 9,000 above last week but 20,957 lower than the same week in 2024.
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