Live cattle futures are rallying $1.65 to $1.90 across the front months on Thursday. The Thursday Fed Cattle Exchange online auction showed $224 bids on 535 of the 2,596 head offered, with no sales. Other bids across the country are being reported at $226. Feeder cattle futures are $1.45 to $3.22 higher at midday. The CME Feeder Cattle Index was another 5 cents higher on October 13 to $341.42.
Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel at $20.88. Choice boxes were up 78 cents to $375.72, with Select $3.63 lower to $354.84. USDA estimated Federally inspected cattle slaughter for Wednesday at 110,000 head, with the week to date total at 326,000 head. That was up 3,000 from the week prior but 20,789 head below the same week last year.
