Live cattle futures saw gains of 17 to 35 cents in the nearby contracts on Wednesday. Feeder cattle futures posted triple digit gains in the front months, with help coming from losses in the gran complex. The 11/24 CME Feeder Cattle Index was $137.30, up 18 cents from the previous day. Wholesale boxed beef prices were higher again in the Wednesday PM report. Choice was up $0.76 at $245.06/cwt, with Select up $1.19 to $220.90/cwt. A few cash trades were reported at $111 earlier on Wednesday, with northern sales of $174 in the beef. USDA estimated Wednesday’s FI cattle slaughter at 118,000 head, down 1,000 from a week ago and the same day last year. The week to date (WTD) is 360,000 head, up 1,000 head from last week.
--- provided by Brugler Marketing & Management
