Cattle Prices Surge to Record Levels Amidst Beef Decline

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On Wednesday, live cattle futures reached contract highs, closing up $1.40 to $1.50. Cash trade is still pending, with southern bids around $225-228 and northern bids at $235, while some light trade was reported in Kansas at $230. Feeder cattle contracts also saw gains, increasing by $3 to $3.50.

USDA Wholesale Boxed Beef prices declined, with Choice boxes down $4.87 to $372.85 and Select boxes reducing $4.67 to $357.91 per cwt. Estimated cattle slaughter on Wednesday was 117,000 head, bringing the weekly total to 347,000, which is 2,000 head below last week and 15,553 head lower compared to the same week last year.

As of August 25, live cattle futures closed at $223.90 (up $1.50), while feeder cattle closed at $325.575 (up $3.30).

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