Live cattle fell lower again on Wednesday, with contracts down $1.12 to $2.37 at the close. Cash trade has yet to develop this week. The Central Stockyards online Fed Cattle Exchange auction saw no sales on the 998 head offered, with no bids and asks of $184-185. Last week’s trade was $182-183 in the South, steady to $1 higher. Northern trade was reported at $184-186, steady to $2 higher on the week, with a few trickling in a $187. Feeders posted losses of $3.15 to $4.17. The CME Feeder Cattle index was up just 3 cents on April 30 to $247.06.
USDA’s Wholesale Boxed Beef prices were lower again in the Wednesday afternoon report. Choice boxes were down 83 cents at $293.54, with Select down $1.88 at $288.07. That took the Chc/Sel spread to $5.47. USDA estimated Wednesday’s federally inspected cattle slaughter at 123,000 head, taking the weekly total to 360,000 head. That is 3,000 head below last week and down 15,515 head from the same week last year.
