The weekly Export Sales report will be released shortly, showing beef export demand for the week that ended 9/7. Feeder cattle led the board lower on Wednesday with triple digit losses of as much as $2.20. Rising feed costs were to blame. October fat cattle were also down by triple digits, though the other nearbys settled only $0.25 to $0.45 lower. USDA reported some light cash trade in the WCB on Wednesday, mostly near $184. The South remains unestablished. The CME Feeder Cattle Index from 9/12 was up another 28 cents to $251.16.
USDA’s Wholesale Boxed Beef report showed a 48 cent drop for Choice and a $3.41 increase for Select. That set the Chc/Sel spread back to $20.36/cwt. Federally inspected cattle slaughter was estimated at 378k head for the week through Wednesday. That trails 384k head during the same week last year.
Oct 23 Cattle closed at $183.150, down $1.000,
Dec 23 Cattle closed at $187.850, down $0.600,
Feb 24 Cattle closed at $192.375, down $0.250,
Sep 23 Feeder Cattle closed at $253.500, down $1.825
Oct 23 Feeder Cattle closed at $259.050, down $2.200
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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