Live cattle futures were 30 to 75 cents higher at closing time on Wednesday. Feeder cattle futures closed $2.475 to $3.00 higher in the nearby contracts. Wholesale boxed beef saw another widening of choice/select spread Wednesday, at an unseasonably high $28.48. That is the widest the spread has been since June of 2017. Choice boxes gained $1.00 to $214.60 and Select boxes dropped $0.94 to $186.12. USDA estimated FI cattle slaughter WTD through Wednesday at 350,0000 head, on pace with last week but down 4,000 head from last year. Wednesday’s FCE online auction saw no sales on the 666 head offered, with asks ranging from $108-109. Country bids of $105 have been reported, with $110 asks.
--provided by Brugler Marketing & Management