Live cattle futures closed with mixed trade, as August was down 60 cents and other contracts were up 7 to 50 cents. Open interest suggested a rotation of ownership, down 251 contracts on Wednesday There were a few cash sales of $403 dressed in the north on Wednesday, with live trade at $255. The Wednesday Fed Cattle Exchange online saw no sales on the 1,520 head offered, with just a couple bids of $253. Feeder cattle futures were down a tick to 45 cents across most contracts on Wednesday. The CME Feeder Cattle Index was down 41 cents on June 30 to $376.99. The market will observe the July 4th Independence Day Holiday on Friday, for a 3-day weekend.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon, with the Chc/Sel spread at $22.39. Choice boxes were down $1.90 at $391.26, with Select $1.99 lower to $369.69. USDA’s federally inspected cattle slaughter for Wednesday was estimated at 110,000 head, with the weekly total at 324,000 head. That was down steady with the previous week and 34,718 head below the same week last year.
Aug 26 Live Cattle closed at $241.825, down $0.600,
Oct 26 Live Cattle closed at $236.725, up $0.075,
Dec 26 Live Cattle closed at $236.575, up $0.200,
Aug 26 Feeder Cattle closed at $364.150, down $0.450,
Sep 26 Feeder Cattle closed at $362.175, down $0.350,
Oct 26 Feeder Cattle closed at $359.300, down $0.350,
