Live cattle futures closed mixed on Wednesday, with front months rallying with cash. April, which expires on Thursday was up $4.20, with other contracts down 25 cents to $1.75 higher. Open interest was up 3,401 contracts. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. The Fed cattle exchange online auction showed sales on 517 of the 1,036 head offered, at $256-258, with one dressed lot at $404. Feeder cattle futures are mixed, with front month and soon to expire (tomorrow) April up 20 cents and other contracts down 55 cents to 37 cents higher. The CME Feeder Cattle Index was up 18 cents to $369.80 on April 28.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel at $1.80. Choice boxes were down 85 cents to $388.05, while Select was $2.53 lower at $386.25. USDA estimated federally inspected cattle slaughter at 109,000 head for Wednesday, taking the weekly total to 324,000 head. That is up 5,000 head from last week and 22,156 head below the same week last year.
Apr 26 Live Cattle closed at $256.875, up $4.200,
Jun 26 Live Cattle closed at $255.250, up $1.750,
Aug 26 Live Cattle closed at $249.725, up $0.625,
Apr 26 Feeder Cattle closed at $372.275, up $0.200,
May 26 Feeder Cattle closed at $371.500, down $0.225,
Aug 26 Feeder Cattle closed at $372.525, down $0.550,
