Live cattle futures continued the rally on Wednesday, as contracts were $3.15 to $3.35 higher across the front months. Cash trade has picked up this week to $235 in KS, up $3 to $5 from last week. This morning’s Fed Cattle Exchange online auction from Central Stockyards, showed $237 sales on 215 of the 1,526 head offered, out of TX and KS. Feeder cattle futures posted gains of $2.60 to $2.75, as several contracts traded above the $340 level though they closed back below it. The CME Feeder Cattle Index was back up 83 cents to $333.03 on July 29.
USDA Wholesale Boxed Beef prices were back lower in the Wednesday afternoon report, with the Chc/Sel spread narrowing to $21.08. Choice boxes were quoted $2.20 lower at $361.99, while Select was down $1.57 to $340.91. USDA estimated cattle slaughter for Wednesday at 112,000 head, taking the weekly total to 333,000. That was up 2,000 head from last week but 24,395 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $233.075, up $3.350,
Oct 25 Live Cattle closed at $229.725, up $3.275,
Dec 25 Live Cattle closed at $229.900, up $3.150,
Aug 25 Feeder Cattle closed at $338.950, up $2.750,
Sep 25 Feeder Cattle closed at $339.750, up $2.675,
Oct 25 Feeder Cattle closed at $338.550, up $2.650,
