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Live cattle futures settled with losses from 15 cents in the October contract to as much as $1.325 for April. Feeders were down 92.5 cents to $1.750 with the August contract finishing at $208.75. CME feeder cattle index was at $215.70 for the 7/24 average. The Semi-annual Cattle Inventory report showed a sharp increase in heifer retention which helps support ideas of larger beef production in 2016. Average wholesale prices were higher today, with choice boxes reported up $1.57, and select boxes 65 cents higher. Cash cattle action last week was reported with live sales of $145-$148, and dressed sales at $233-$236. Estimated Monday slaughter is 108,000 head, 2K head short of a week ago.
Aug 15 Cattle closed at $143.025, unch,
Oct 15 Cattle closed at $143.975, down $0.150,
Dec 15 Cattle closed at $146.100, down $0.950,
Aug 15 Feeder Cattle closed at $208.750, down $0.925
Sep 15 Feeder Cattle closed at $206.375, down $1.175
Oct 15 Feeder Cattle closed at $204.575, down $1.350