Live cattle futures extended their gains into Wednesday, with contracts up 72 cents to $1.60. Some southern cattle traded at $187 to $188 on Wednesday, about steady with last week. Feeder cattle futures were mostly higher, with contracts up a tick to 75 cents, although front month August was down 7 cents. The CME Feeder Cattle Index was down 5 cents on July 16 at $261.32.
USDA wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with Choice boxes down another $1.10 to $318.16/cwt and Select product $3.15 lower at $298.44. USDA estimated Wednesday’s FI slaughter at 121,000 head, taking the weekly total to 360,000. That 6,000 head over last week but was 8,990 head below the same week last year.
Aug 24 Live Cattle closed at $184.275, up $1.600,
Oct 24 Live Cattle closed at $185.575, up $1.050,
Dec 24 Live Cattle closed at $187.300, up $0.850,
Aug 24 Feeder Cattle closed at $258.550, down $0.075,
Sep 24 Feeder Cattle closed at $259.550, up $0.025,
Oct 24 Feeder Cattle closed at $259.400, up $0.150,
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