Live cattle futures rounded out the Wednesday session with contracts 35 to 85 cents lower. Open interest slipped back 2,317 contracts. Cash has been slow early this week with very little action early. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,356 head, with bids at $245. Feeder cattle futures posted gains of 30 cents to $1.40. New buying interest was noted, up 1,258 contracts. The CME Feeder Cattle Index was back down $2.44 on July 7 to $370.75.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel spread at $18.11. Choice boxes were down $4.57 at $381.20, with Select $2.80 lower to $363.09. USDA’s federally inspected cattle slaughter for Wednesday was estimated at 108,000 head, taking the weekly total to 318,000 head. That was down 6,000 from the previous week and 32,028 head below the same week last year.
Aug 26 Live Cattle closed at $237.625, down $0.800,
Oct 26 Live Cattle closed at $233.550, down $0.475,
Dec 26 Live Cattle closed at $233.650, down $0.350,
Aug 26 Feeder Cattle closed at $362.050, up $1.400,
Sep 26 Feeder Cattle closed at $358.650, up $1.250,
Oct 26 Feeder Cattle closed at $354.625, up $0.850,
