
Live cattle futures stalled the rally on Tuesday with the front months having pulled back 17 to 82 cents. October, which expires next Monday, saw a 7 cent gain to $151.67. The weekly FCE auction saw no bids on the 1,120 head listed, asks were $150. Cash trade remains unestablished for the week through Tuesday. Feeder cattle futures ended the day with $1.22 to $1.82 losses, past October’s 92 cent gain. USDA’s OKC feeder auction review reported cash trades were $1-$5 higher with good volume – steers made up 60% of the volume, with 59% of the total under 600lbs. The 10/21 CME Feeder Cattle Index was 68 cents higher to $173.62.
Wholesale Boxed Beef prices had Choice up by $3.51 and a $1.74 increase in Select in the PM report. That had the Chc/Sel spread at $34.08. USDA estimated Tuesday’s FI cattle slaughter as 129k head, setting the week to date pace as 255,000 head. That compares with 254k head last week and with 244k head during the same week last year.
Oct 22 Cattle closed at $151.675, up $0.075,
Dec 22 Cattle closed at $153.300, down $0.825,
Feb 23 Cattle closed at $156.700, down $0.275,
Oct 22 Feeder Cattle closed at $176.600, up $0.925
Nov 22 Feeder Cattle closed at $177.925, down $1.225
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.