Cattle Posts Strength, with Front Month Weakness

Live cattle futures saw most contracts with 12 to 57 cent gains, as front month October was a nickel lower. Cash trade saw sales of $183 in the South last week, up $2-3 on the week. Northern sales improved $2-3 to $184-185. Early week action was mostly compiling showlists. Feeder cattle futures closed with gains of 20 cents to $1.32, as nearby September was down 15 cents. The CME Feeder Cattle Index was up another 52 cents at $244.02 on September 23. 

USDA wholesale Boxed Beef prices were mixed in the Tuesday PM report. Choice boxes were up 8 cents to $301.89/cwt, with Select 92 cents lower @ $286.87. The Chc/Select spread widened to $15.02. USDA estimated Tuesday’s federally inspected cattle slaughter at 125,000, taking the weekly total to 243,000 head. That is 13,000 head below the previous week and 20,766 head below the same week last year.

Oct 24 Live Cattle  closed at $183.200, down $0.050,

Dec 24 Live Cattle  closed at $184.400, up $0.575,

Feb 25 Live Cattle  closed at $185.425, up $0.575,

Sep 24 Feeder Cattle  closed at $244.950, down $0.150,

Oct 24 Feeder Cattle  closed at $245.800, up $1.325,

Nov 24 Feeder Cattle  closed at $243.400, up $0.650,