Live cattle futures experienced notable gains on Wednesday, with prices rising by $2 to $2.60. Notably, there were no deliveries issued for August live cattle. The Central Stockyards Fed Cattle Exchange auction reported sales of $237 for 479 head of cattle out of 1,558 offered. Feeder cattle futures also saw significant increases, climbing by $3.97 to $4.70.
The USDA reported a rebound in wholesale boxed beef prices, with Choice boxes increasing by $4.92 to $374.86 and Select boxes up $5.42 to $351.36. The Chc/Sel spread stood at $23.50. Cattle slaughter for Tuesday was estimated at 116,000 head, bringing the weekly total to 332,000 head, which is down 1,000 head from the previous week and 28,722 head lower compared to the same period last year.
