Front month live cattle futures ended the day with gains of $0.72 to $1.57. The December contract went home $1.02 under the contract high and just 5 cents under the day session’s high. Feeders faded off their highs by 20 to 60 cents in the front months, but still ended the day with $0.25 to $1.40 gains. USDA reported limited Southern trade at $147 on Wednesday. The North has been $150 on a few trades. The weekly FCE auction saw no sales for the 1,574 head listed. Bids were capped at $144.50 while asks stayed $146-$148. The 10/18 CME Feeder Cattle Index was $172.03, down by 24 cents.
Wholesale Boxed Beef prices were higher in the PM report with Choice up by $2.61 and Select 91 cents higher. The Chc/Sel spread was $31.20. USDA estimated FI cattle slaughter at 381,000 head for the week through Wednesday. That is trailing last week by 3,000 head, but is up 19,000 from the same week last year.
Oct 22 Cattle closed at $149.350, up $0.875,
Dec 22 Cattle closed at $151.350, up $1.575,
Feb 23 Cattle closed at $154.250, up $1.475,
Oct 22 Feeder Cattle closed at $175.225, up $0.400
Nov 22 Feeder Cattle closed at $178.075, up $0.250
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
/Intel%20Corp_%20logo%20on%20mobile%20phone-by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)
/Alphabet%20(Google)%20Image%20by%20Markus%20Mainka%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)
