Live cattle futures are trading with losses of $1.20 to $2 so far at Wednesday’s midday. Cash trade has yet to get fully kicked off this week, as last week was $232-233 across the country. The Wednesday morning Fed Cattle Exchange online auction showed no sales or bids on the 974 head offered. Feeder cattle futures are down $2.50 to $2.90 so far on Wednesday. The CME Feeder Cattle Index was back up 56 cents to $369.12 on January 12.
USDA Wholesale Boxed Beef prices were higher in the Wednesday AM report, with the Chc/Sel spread widening back out to $1.82. Choice boxes were up $1.34 to $359.33, while Select was 33 cents higher at $357.51. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, taking the week to date total to 232,000. That was 1,000 head below last week and 8,688 shy of the same week last year.
