Live Cattle Futures Rise on Thin Trading Volume

Live cattle futures gained 17 to 72 cents on Wednesday as traders reacted to thin cash market activity. February live cattle closed at $233.10, up $0.725, while April settled at $234.95, up $0.375. Feeder cattle futures advanced 45 cents to $1.70 across most contracts. USDA's Wednesday boxed beef report showed Choice cuts up $1.35 to $366.11, with Select up $2.61 to $362.45. Weekly cattle slaughter was estimated at 114,000 head, 19,000 below last week and 24,949 below the prior-year period.