Live cattle futures are up $1.45 to $1.72 so far on Wednesday. Cash trade has yet to develop this week, as sales came in at $258-260 last week. The Wednesday morning, Fed Cattle Exchange online auction showed no sales on the 1,636 head offered, with bids at $255. Feeders are the leaders, with contracts $4.97 to $6.65 higher at midday. The CME Feeder Cattle Index was up $2.44 on June 22 to $373.00.
Wholesale Boxed Beef prices were mixed in the Wednesday AM report, with the Chc/Sel spread at $21.08. Choice boxes were up 63 cents to $400.94, while Select was $1.20 lower at $379.86. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the weekly total at 216,000 head. That was up 8,000 from the previous week but 12,895 head below the same week last year.
Jun 26 Live Cattle are at $256.600, up $1.450,
Aug 26 Live Cattle are at $247.725, up $1.725,
Oct 26 Live Cattle are at $241.450, up $1.700,
Aug 26 Feeder Cattle are at $374.800, up $6.650
Sep 26 Feeder Cattle are at $372.550, up $5.575
Oct 26 Feeder Cattle are at $369.575, up $4.975
