Live cattle futures saw gains of a nickel in August to $1.30 in some deferred contracts on Wednesday. Open interest was down 3,079 contracts. Cash trade has yet to get kicked off this week, with sales at $245-246 last week. The Central Stockyards Fed Cattle Exchange online auction saw no bids on the 970 head offered, with reserve prices (asks) at $250 live. Feeder cattle futures settled Wednesday with $1.10 to $1.90 gains in the front months. The CME Feeder Cattle Index was back down 4 cents to $364.59 on April 7.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel at an inverted $2.61. Choice boxes were down $3.08 to $379.66, while Select was $4.06s lower at $382.27. USDA estimated federally inspected cattle slaughter for Wednesday at 109,000 head, with the weekly total at 320,000. That was down 4,000 head from last week and 29,745 head below the same week last year.
Apr 26 Live Cattle closed at $249.000, up $0.800,
Jun 26 Live Cattle closed at $245.925, up $0.125,
Aug 26 Live Cattle closed at $242.425, up $0.050,
Apr 26 Feeder Cattle closed at $370.675, up $1.775,
May 26 Feeder Cattle closed at $368.000, up $1.375,
Aug 26 Feeder Cattle closed at $367.950, up $1.900,
