Live cattle futures are posting 90 cent to $1 gains on Wednesday. Cash trade has yet to get kicked off this week, as last week settled in at $234-235 sales and $238 late in the south. The Wednesday morning Fed Cattle exchange showed no sales on the 1,016 head offered, with limited bids of $238. Feeder cattle futures are trading with extended gains of $2.50 to $3.10 at midday. The CME Feeder Cattle Index was up 81 cents to $365.93 on March 30.
Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel at $2.17. Choice boxes were down 69 cents to $394.80, while Select was 30 cents lower at $392.63. USDA estimated federally inspected cattle slaughter for Tuesday at 108,000 head, with the weekly total at 217,000 head. That is up 5,000 head from last week and 8,831 head below the same week last year.
