Live cattle futures were down 35 cents to $1.40 on Wednesday, with April up a nickel. Open interest was down 4,944 contracts on Wednesday, suggesting new selling interest. There were 3 deliveries for April live cattle in Dodge City. Cash trade has been quiet so far this week, with a few $248 sales in the South, as last week was $246-249 in the South and $249-250 in the north. The Thursday morning Fed Cattle Exchange online auction showed no sales on the 1,222 head, with bids of $246-248. Feeder cattle futures were $2.37 to $4.30 higher on Wednesday. The CME Feeder Cattle Index was up 44 cents to $375.46 on April 14.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel holding at $3.40. Choice boxes were down $1.22 to $381.98, while Select was also $1.22 lower at $378.58. USDA estimated federally inspected cattle slaughter at 109,000 head for Wednesday, taking the weekly total to 325,000 head. That is up 5,000 head from last week but 20,299 head below the same week last year.
Apr 26 Live Cattle closed at $252.600, up $0.050,
Jun 26 Live Cattle closed at $251.075, down $0.350,
Aug 26 Live Cattle closed at $246.125, down $0.400,
Apr 26 Feeder Cattle closed at $373.500, down $2.375,
May 26 Feeder Cattle closed at $370.950, down $3.900,
Aug 26 Feeder Cattle closed at $372.200, down $3.625,
