Live cattle futures faded by $0.77 to $1.45 across the front months. Feb saw a $1.43 range on the day, and closed just a nickel off the bottom. USDA confirmed some light cash cattle trade on Wednesday from $165 to $168 with the bulk of action in the South and down by $1-$6 from last week. The CME Feeder Cattle Index weakened another $2.32 weaker to $216.05 for 12/11.
Wholesale Boxed Beef prices were $1.14 weaker in Choice, but up by 55 cents in Select on Wednesday afternoon. That had the Chc/Sel spread at $32.43. USDA’s FI cattle slaughter estimate was 380k head for the week through Wednesday, up by 4k head for the week and 17k head more than the same week last year.
