Live cattle futures ended the Tuesday session mixed with front month losses of 12 to 52 cents. The April contract ended UNCH on the day and June ’23 fats went home a nickel higher. April futures remain a $7.80 premium to the December contract. Tuesday’s FCE on Central Stockyards saw $142 bids but no sales for the 1,507 head listed. Asks were $145. USDA called the bulk of Southern cash trade $143 last week, with Northern trade at $144-145.
Feeder cattle went home with Tuesday losses of $0.85 to $0.95 on the day. Lower cattle and higher corn were bearish influences. USDA reported OKC feeder cattle sales were $1-3 lower wk/wk with good volume. The CME Feeder Cattle Index for 10/3 was up by 23 cents to $175.67.
Wholesale Boxed Beef prices for Tuesday were $2.10 stronger in Choice and 60 cents higher in Select. USDA estimated Tuesday’s FI cattle slaughter at 128k head. The week’s slaughter was running at 255,000 head through Tuesday, which was up 2k head from last week.
Oct 22 Cattle closed at $144.200, down $0.125,
Dec 22 Cattle closed at $147.500, down $0.525,
Feb 23 Cattle closed at $151.250, down $0.300,
Oct 22 Feeder Cattle closed at $174.650, down $0.875
Nov 22 Feeder Cattle closed at $175.200, down $0.850
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