Live cattle futures posted mixed results on Wednesday, with contracts down 22 cents to 55 cents higher. Open interest rose modestly on Wednesday, up 2,065 contracts. Cash trade from last week finished out near $256-257. It has been quiet so far this week, with a few light sales of $400 in NE. The Wednesday Fed Cattle Exchange online auction showed $256 sales on 307 head of the 752 offered. Feeder cattle futures were 52 to 92 cents higher at the midweek close. Open interest suggested a rotation of ownership down just 83 contracts. The CME Feeder Cattle Index was back down 14 cents to $375.19 on May 5.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel spread at a penny premium to Select. Choice boxes were down $2.72 to $389.62, while Select was $2.61 lower at $389.63. USDA estimated federally inspected cattle slaughter for Wednesday at 108,000 head, taking the weekly total to 313,000 head. That is down 11,000 head from last week and 34,133 head below the same week last year.
Jun 26 Live Cattle closed at $253.475, up $0.250,
Aug 26 Live Cattle closed at $248.900, up $0.550,
Oct 26 Live Cattle closed at $243.725, up $0.500,
May 26 Feeder Cattle closed at $372.400, up $0.575,
Aug 26 Feeder Cattle closed at $373.050, up $0.750,
Sep 26 Feeder Cattle closed at $371.300, up $0.925,
