Live cattle futures were 67 cents to $1.20 higher across the nearbys at midday. The Wednesday Fed Cattle Exchange online saw no sales on the 1,520 head offered, with just a couple bids of $253. Outside of that, there have been $252-255 bids across the country on Wednesday. Feeder cattle futures are $2.15 to $2.20 gains so far at midday. The CME Feeder Cattle Index was down $2.52 on June 29 to $377.40.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon, with the Chc/Sel spread at $22.39. Choice boxes were down 19 cents at $392.97, with Select $1.10 lower to $370.58. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the weekly total at 214,000 head. That was down 2,000 from the previous week on a 3,000 head revision lower to Monday and 24,022 head below the same week last year.
