
Live cattle futures are trading with slight nickel to 45 cent lower action. Cash trade has yet to kick off this week. This morning’s Central Stockyards online Fed Cattle Exchange auction showed no sales on the 1,354 head listed, with bids of $178 to $179 and asks of $183-184. Feeder cattle futures are down 42 to 95 cents at midday. The CME Feeder Cattle Index was back up 76 cents at $243.44 on September 16.
Friday’s Cattle on Feed report is expected to show August placements down 1% from a year ago, with August marketings dropping 3.4% according to a Reuters survey of analysts. September 1 on feed estimates are running up 0.9% from 2023.
USDA wholesale Boxed Beef prices lower in the Wednesday morning report. Choice boxes were down another 36 cents at $303.55, with Select 61 cents lower @ $291.61. The Chc/Select spread widened to $11.94. USDA estimated Tuesday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 246,000 head. That is 8,000 head above the previous week and just 826 head below the same week last year.
Oct 24 Live Cattle are at $178.350, down $0.450,
Dec 24 Live Cattle are at $179.775, down $0.075,
Feb 25 Live Cattle are at $180.950, down $0.050,
Sep 24 Feeder Cattle are at $242.850, down $0.450
Oct 24 Feeder Cattle are at $239.800, down $0.950
Nov 24 Feeder Cattle are at $237.875, down $0.425
On the date of publication, Austin Schroeder 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.