Red Close for Midweek Cattle

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