Live cattle futures pulled off the early session lows on Wednesday, still closing with losses of 40 cents to $1.32. Early cash trade this week has come in near $246 across the country on lighter trade. The Wednesday morning Fed Cattle Exchange showed no sales on the 1,226 head offered, with bids of $246-246.50. Feeder cattle futures posted a 22 cent gain in the April contract on Wednesday, with other contracts down 7 to 50 cents. The CME Feeder Cattle Index was down 93 cents to $373.44 on April 21.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel back to premium for Choice at 86 cents. Choice boxes were down $1.99 to $384.19, while Select was $3.87 lower at $383.33. USDA estimated federally inspected cattle slaughter at 111,000 head for Wednesday, with the week to date total at 319,000 head. That is down 6,000 head from last week and 26,373 head below the same week last year.
Apr 26 Live Cattle closed at $246.850, down $0.575,
Jun 26 Live Cattle closed at $243.075, down $0.475,
Aug 26 Live Cattle closed at $239.175, down $0.525,
