**Live Cattle Futures Update – October 26, 2023**
Live cattle futures experienced slight fluctuations on Wednesday, closing down $1.17 to up 25 cents. The Fed Cattle Exchange reported no sales on 952 head offered, with bids at $220 live and $349 dressed. Feeder cattle futures gained between 37 cents and $1.22, with the CME Feeder Cattle Index up 45 cents to $327.43.
The USDA estimated Wednesday’s federally inspected cattle slaughter at 109,000 head, bringing the weekly total to 220,000, significantly lower than last week due to the Monday holiday. Wholesale Boxed Beef prices showed a mixed trend, with Choice boxes increasing by $3.20 to $380.77, while Select boxes dropped $3.05 to $352.34. The Chc/Sel spread widened to $28.43.
Key contract prices for October 26 include:
– **Live Cattle**:
– Oct 26: $215.850 (down $1.175)
– Dec 26: $218.475 (down $0.750)
– Feb 27: $220.325 (down $0.125)
– **Feeder Cattle**:
– Sep 26: $329.700 (up $0.825)
– Oct 26: $325.825 (up $0.375)
– Nov 26: $321.350 (up $0.900)
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