Live cattle futures saw a pop late on Wednesday to close with 17 to 77 cent gains. Open interest was down 680 contracts, with much of it in the April contract. Cash trade has been quiet so far this week. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,026 head offered, with bids of $233-234. Feeder cattle futures slipped back 32 cents to $1.07 at the close. OI dropped 665 contracts. The CME Feeder Cattle Index was up a penny to $358.32 on March 17.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel spread at $5.58. Choice boxes were down $1.56 to $401.75, while Select was 55 cents lower to $396.17. USDA estimated federally inspected cattle slaughter for Wednesday at 105,000 head, with the week to date total at 308,000 head. That is down 9,000 head from last week and 20,077 head below the same week last year.
Apr 26 Live Cattle closed at $235.400, up $0.175,
Jun 26 Live Cattle closed at $234.000, up $0.300,
Aug 26 Live Cattle closed at $231.600, up $0.275,
Mar 26 Feeder Cattle closed at $358.725, down $1.075,
Apr 26 Feeder Cattle closed at $353.825, down $0.975,
May 26 Feeder Cattle closed at $349.875, down $0.750,
