Cattle Net Red for Week into Wednesday

Tuesday’s session led the live cattle market $0.80 to $0.95 lower. The board did close off the lows for the day, which had the front months triple digits weaker. Feeder cattle weakened as well, fading $2.07 to $2.60 on Tuesday. USDA reported minimal cash trade activity for the North on Tuesday, at $143 for the limited sales. Last week, confirmed cash trades were mostly near $143 in the North ($230 dressed) and $141 in the South. The CME Feeder Cattle Index for 9/9 was 33 cents weaker to $180.91. 

Wholesale Boxed Beef prices weakened on Tuesday afternoon with Choice down by $2.28 and Select down by $2.18. USDA estimated FI cattle slaughter for Tuesday at 128k head, compared to 127k last week and 120k head from the same week last year. The WTD cattle slaughter was 20k head above last year’s pace with 253k head.  

Oct 22 Cattle  closed at $144.800, down $0.950,

Dec 22 Cattle  closed at $150.450, down $0.900,

Feb 23 Cattle  closed at $154.725, down $0.825,

Sep 22 Feeder Cattle  closed at $179.450, down $2.075

Oct 22 Feeder Cattle  closed at $180.525, down $2.600