Live cattle resumed their upward momentum following the turnaround Tuesday. Futures went home 17 to 32 cents higher at the close. October was the outlier with another 22 cent drop by the bell. Feeder cattle traded with $0.90 to $1.05 gains on Wednesday, save for a $0.17 dip in October. The weekly FCE auction had no sales for the 1,120 head listed, with asks firm at $150 and bids capped at $148. USDA confirmed light trade from $151-$152 in the WCB on Wednesday, but not enough for a market test. The Feeder Cattle Index from CME was 11 cents higher on 10/25 at $174.96.Â
Wholesale Boxed Beef prices were 57 cents weaker in Choice in the PM report, and up by $1.25 in Select. That had Choice boxes quoted at $260.86, with $434.78 for ribs, and Select at $228.60, with $315.95 for the ribs. The week to date cattle slaughter under federal inspection was 384k head through Wednesday. That is up from 381k head last week and from 366k head during the same week last year.Â
Oct 22 Cattle  closed at $151.450, down $0.225,
Dec 22 Cattle  closed at $153.575, up $0.275,
Feb 23 Cattle  closed at $157.025, up $0.325,
Oct 22 Feeder Cattle  closed at $176.425, down $0.175
Nov 22 Feeder Cattle  closed at $178.825, up $0.900
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.
