Live cattle posted losses of 10 to 82 cents on the Wednesday session. Cash action has already begun this week, with some $188-191 sales in Kansas and $188 in Texas this week. Northern trade was reported at $198. The Central Stockyards Fed Cattle Exchange saw sales of $188 live in Texas, with other sales of $191 in TX and $193 in KS and IA both using their BidTheGrid™ method. Feeder cattle slid into the close, with contracts down $1.37 to $2.47 on the day. The CME Feeder Cattle Index was back up 82 cents on July 9 at $258.15.
USDA wholesale Boxed Beef prices were lower again in the Wednesday afternoon report. Choice boxes were down another $1.61 to $324.05/cwt, with Select 37 cents lower at $303.94. The Chc/Select spread narrowed to $20.11. USDA estimated Wednesday’s FI slaughter at 122,000 head, with the WTD total at 354,000 head. That is up 1,000 head from the previous week and 23,875 head below the same week last year.
Aug 24 Live Cattle closed at $182.250, down $0.100,
Oct 24 Live Cattle closed at $183.200, down $0.100,
Dec 24 Live Cattle closed at $184.800, down $0.575,
Aug 24 Feeder Cattle closed at $254.350, down $1.375,
Sep 24 Feeder Cattle closed at $254.575, down $2.250,
Oct 24 Feeder Cattle closed at $254.800, down $2.400,
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