Live cattle futures are trading back down by triple digits on Wednesday. The June contract is the exception with a 47 cent gain through midday. The merc showed Dec 7th was the oldest dated long for June cattle, with no deliveries announced and none expected during the strong cash market rally this week. USDA confirmed Tuesday’s cash trade was $3-$5 higher with WCB sales near $190 and $288-$292 in the beef. only 839 head were listed in the Wednesday FCE auction, bids were capped at $182 with asks of $184. Feeder cattle futures are down triple digits, giving back as much as $1.67 so far through midday. The CME Feeder Cattle Index for 6/2 was $216.12 after a sharp $8.08 increase.  Â
Wholesale Boxed Beef prices were $2.37 higher in Choice in the AM update and Select boxes increased $1.29 to +$300. Choice ribs were quoted at $473.16 cwt. and Select was $412.28 cwt. USDA estimated Tuesday’s FI cattle slaughter at 125k head for a weekly running total of 246k. That is 3,000 behind the same week last year.Â
Jun 23 Cattle  are at $180.475, up $0.650,
Aug 23 Cattle  are at $175.325, down $0.175,
Oct 23 Cattle  are at $177.500, down $0.750,
Cash Cattle Index was $171.000, from $170.85 last week
Aug 23 Feeder Cattle  are at $242.050, down $1.200
Sep 23 Feeder Cattle  are at $245.800, down $0.725
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. For more information please view the Barchart Disclosure Policy here.
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