
The cattle complex continued its decline through the midweek session, ending with 52 to 67 cent losses in the fats and $0.32 to $1.12 losses in the feeders. There were again no sales for the Wednesday FCE auction. Bids on the 1,077 head offered were $141-$143 with asks mostly $143-$144. USDA reported the midweek cash market as being $144-$145 in NE and light Southern activity near $143. The 9/26 CME Feeder Cattle Index was another 90 cents weaker to $177.82.
Wholesale Boxed Beef prices were lower, but widened the Chc/Sel spread to $28.34. Choice boxes were quoted 88 cents weaker and Select was down by $2 cwt. USDA estimated the week’s FI cattle slaughter at 380k head. That is down 2k wk/wk but up from 356,000 head during the same week last year.
Oct 22 Cattle closed at $143.050, down $0.525,
Dec 22 Cattle closed at $146.275, down $0.625,
Feb 23 Cattle closed at $150.175, down $0.675,
Sep 22 Feeder Cattle closed at $175.375, down $0.325
Oct 22 Feeder Cattle closed at $175.000, down $1.125