Cattle initially faded for Wednesday, but pulled off the lows for a mixed close within 25 cents of UNCH. Feb traded within a $1.33 range for the day. Feeder cattle were mostly higher across the front months, but were mixed as May ended with a 2c loss. The Jan contract traded within a $2.13 range. USDA confirmed 7.2k head of cattle were sold on Wednesday with most trades $2-$3 higher at $175. The 1/2 CME Feeder Cattle Index was $225.05, back down by $3.14.
USDA’s afternoon Wholesale Boxed Beef quotes were $6.31 weaker in Choice and 1c lower in in the PM report. That had Choice at $278.03 and Select at $258.85. The FI cattle slaughter for Wednesday was 128k head for a weekly total of 254k head. That compares to 258k head during the same week last year.
Dec 23 Cattle closed at $173.675, up $2.475,
Feb 24 Cattle closed at $171.850, down $0.075,
Apr 24 Cattle closed at $174.750, up $0.250,
Jan 24 Feeder Cattle closed at $226.075, up $0.650
Mar 24 Feeder Cattle closed at $227.025, up $0.575
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