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Cattle Market Sees Weaker Cash Trade

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Live cattle futures saw marginal gains in most contracts on Wednesday. Feeder cattle futures were down 7.5 to 60 cents in most contracts. The CME feeder cattle index was down 30 cents to $134.77 on May 14. Wholesale boxed beef prices were lower on Wednesday afternoon. Choice boxes were down 55 cents at $219.57 with Select boxes 93 cents lower @ $208.04. USDA estimated weekly FI cattle slaughter at 363,000 head through Wednesday. That was up 1,000 head from the previous week and 6,000 above the same week last year. Wednesday’s FCE online auction saw sales on 280 of the 376 head at $117. Most other cash sales around the country were also $117. --provided by Brugler Marketing & Management

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