On Wednesday, live cattle futures saw contracts increase by 50 to 70 cents, while August futures declined by 20 cents. Cash trade reported very light activity with $225 transactions in the Southern region. The Fed Cattle Exchange’s online auction showed no sales on 928 head, with bids at $220. Feeder cattle futures increased by 77 cents to $1.35, and the CME Feeder Cattle Index rose by $5.36 to $316.76.
In a notable development, President Trump announced a 50% tariff on Brazilian goods starting August 1, affecting Brazil’s position as a top beef exporter to the U.S. Meanwhile, USDA Wholesale Boxed Beef prices fell significantly, with Choice boxes dropping $6.59 to $386.45 and Select boxes down $5.19 to $373.27. Estimated cattle slaughter for Wednesday was reported at 117,000 head, bringing the weekly total to 349,000 head, which is 11,000 head lower than last week and 7,550 head lower compared to the same week last year.
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