Live cattle futures posted steady trade to 60 cent losses on Wednesday. Cash trade has yet to get kicked off this week, with very light action at $233. No sales were reported in the Wednesday Fed Cattle Exchange online auction from Central Stockyards, with 1,652 head listed. Bids were $221-225. Feeder cattle futures were up 5 to 15 cents across the front months on Wednesday. The CME Feeder Cattle Index was back up 27 cents @ $310.60.
USDA reported beef stocks at the end of May at 407.786 million lbs, which was down 2.73% from last month and 1.18% below last year.
National Wholesale Boxed Beef prices were mixed on Wednesday afternoon, with the Chc/Sel spread widening to $18.65. Choice boxes were up 69 cents to $394.94, while Select was quoted $6.12 lower at $376.29/cwt. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 118,000 head, with the week to date total at 347,000 head. That is 13,000 head above the week prior but 5,691 head below the same week last year.
Jun 25 Live Cattle closed at $221.600, down $0.000,
Aug 25 Live Cattle closed at $208.975, down $0.575,
Oct 25 Live Cattle closed at $206.350, down $0.600,
Aug 25 Feeder Cattle closed at $302.300, up $0.050,
Sep 25 Feeder Cattle closed at $302.600, up $0.150,
Oct 25 Feeder Cattle closed at $300.750, up $0.100,
