Live cattle futures are 22 cents to $1 higher on Wednesday. Cash trade saw very light $225 Southern action reported on Tuesday. The Wednesday morning Fed Cattle Exchange online auction from Central Stockyards, showed no sales on the 928 head, with bids of just $220. Feeder cattle futures are up $1.05 $1.72 at midday. The CME Feeder Cattle Index was up 8 cents to $311.40 on July 7.
USDA Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel spread narrowing to $14.55. Choice boxes were down $3.55 to $389.49, while Select was quoted $3.52 at $374.94/cwt. Estimated cattle slaughter for Tuesday was 118,000 head according to the USDA, with the weekly total at 232,000 head. That was 6,000 head below last week and 2,799 head lower vs. the same week last year.
