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Live cattle futures are experiencing a downturn, with contracts down $1.35 to $1.75 as of October 25. Cash prices are reported at $238-240 in the North and $240 in the South, showing a decrease of $2-5 compared to last week. The recent Fed Cattle Exchange auction recorded sales of $240 for 81 out of 1,516 head offered.
Feeder cattle futures have also declined, with midday contracts falling by $2.85 to $4.75. The CME Feeder Cattle Index was reported at $363.48, down $1.99 as of September 10. USDA Wholesale Boxed Beef prices dropped further, with Choice boxes at $400.48 and Select at $378.27. Thursday’s USDA estimated cattle slaughter was 117,000 head, bringing the weekly total to 459,000, which is down by 27,056 head from the same week last year.
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