Live Cattle Futures Market News and Commentary
Live cattle futures were stronger on Wednesday, as the feeders faded. Fat cattle settled the session 2 to 37 cents higher, leaving the Dec contract at a $1.90 loss for the week and a $6 loss from the LoC high. The front month feeder cattle futures were 12 to 82 cents in the red on the day. Nov futures were contrary to the others with a 7c gain on the day. Thursday’s cash market was shown from $182 to $184. The CME Feeder Cattle Index increased 11 cents to $251.90.
USDA saw Wholesale Boxed Beef prices lower for Wednesday. Choice was down $3.31 and Select fell 72 cents. USDA’s federally inspected cattle slaughter was estimated at 128,000 head for Tuesday. That has the week-to-date pace at 253k head – trailing LW by 2k and the same week last year by 5k head.
Oct 23 Cattle closed at $182.200, up $0.075,
Dec 23 Cattle closed at $186.025, up $0.375,
Feb 24 Cattle closed at $190.375, up $0.075,
Oct 23 Feeder Cattle closed at $247.775, down $0.825... Read more