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Live cattle futures closed with gains of 60 to 85 cents on Wednesday, as choppy trade continues. Feeder futures were up 10 to 30 cents, after giving back 45 to 72.5 cents on Tuesday. Jan16 feeders traded higher for the fifth time in the last seven sessions, and are up $4.875 in that time. The CME Feeder Cattle Index for 11/24 was 95 cents lower to $175.77. The USDA reported higher wholesale beef prices in its Wednesday afternoon report. Choice boxes were up 28 cents to $204.09, and select boxes tightened the choice/select spread to $10.33, after gaining $1.52 to an average price of $193.76. There were a few reported dressed sales at $195 on Wednesday, along with live cash sales of $123. Estimated WTD slaughter was 331,000 head as of Wednesday night, 10,000 head larger than a week ago, but 18,000 head smaller than the same period in 2014.
Dec 15 Cattle settled at $130.950, up $0.700,
Feb 16 Cattle settled at $133.125, up $0.625,
Apr 16 Cattle settled at $133.950, up $0.850,
Jan 16 Feeder Cattle settled at $164.975, up $0.300
Mar 16 Feeder Cattle settled at $163.125, up $0.125
Apr 16 Feeder Cattle settled at $164.675, up $0.100