Live cattle are falling again on Wednesday, as contracts are down 30 to 97 cents. Cash action has been light with some $188 sales in Kansas and Texas this week, with more Wednesday bids creeping in at $188. Northern trade is still not reported. The Central Stockyards Fed Cattle Exchange saw sales of $188 live in Texas, with other sales of $191 in TX and $193 in KS and IA both using their BidTheGrid™ method. Feeder cattle are losing $1.30 to $2.30 again on the midweek session. The CME Feeder Cattle Index was down 96 cents on July 8 at $257.33.
USDA wholesale Boxed Beef prices were mixed in the Wednesday morning report. Choice boxes were down another 41 cents to $325.25/cwt, with Select $1.24 higher at $305.55. The Chc/Select spread narrowed to $19.70. USDA estimated Tuesday’s FI slaughter at 120,000 head, with the WTD total at 232,000 head. That is down 1,000 head from the previous week and 18,486 head below the same week last year.
