Live cattle posted Wednesday gains of 40 to 70 cents in the nearby contracts. Preliminary open interest was up 2,273 contracts. Cash trade has been slow this week, with light sales at $213 in the north reported by the USDA. The Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,328 head listed and bids of $205-208.50. Feeder cattle futures saw gains of $1 to $1.50 in most contracts, with March slipping 17 cents ahead of Thursday’s expiration. The CME Feeder Cattle Index was back down 35 cents on March 25, with the average price at $286.90.

USDA’s National Wholesale Boxed Beef report was higher on Wednesday afternoon, as the Chc/Sel widened to $21.77. Choice boxes were up $3.11 at $338.30/cwt, with Select up $2.48 to $316.53. Wednesday’s Federally inspected cattle slaughter was estimated at 123,000 head by USDA, taking the week to date total to 366,000 head. That is 40,000 head above the previous week’s weather driven slowdown and up 2,968 head from the same week last year.

Apr 25 Live Cattle  closed at $207.075, up $0.700,

Jun 25 Live Cattle  closed at $203.025, up $0.700,

Aug 25 Live Cattle  closed at $199.350, up $0.475,

Mar 25 Feeder Cattle  closed at $286.800, down $0.175,

Apr 25 Feeder Cattle  closed at $285.875, up $1.025,

May 25 Feeder Cattle  closed at $285.175, up $1.050,