Live cattle futures were up anywhere from a quarter to $1 on Tuesday. Cash trade so far this week has mostly been compiling showlists. Last week was mostly $186 in the South, up $1 on the week. Northern action was $187 live and $296 in the beef up $2 from the previous week.
Feeder cattle futures were $1.15 to $1.62 higher on the day. The CME Feeder Cattle Index was back up $1.27 at $248.75 on October 7. The weekly OKC feeder cattle auction sold 4,683 head this week, which is down from 5,878 head last week and 6,121 head the year prior. Heavier weight steers over 700 lbs were steady to $2 higher, with the lighter weights $7-11 higher. Heifers over 650 lbs were up $5-8, with heifers below that up $1-5.
USDA wholesale Boxed Beef prices were mixed in the Tuesday PM report. Choice boxes were up 91 cents to $306.84/cwt, with Select 72 cents lower @ $288.61. The Chc/Select spread widened to $18.23. USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 234,000 head. That is 9,000 head below the previous week and down 17,334 head from the week last year.
Oct 24 Live Cattle closed at $188.475, up $1.000,
Dec 24 Live Cattle closed at $187.875, up $0.850,
Feb 25 Live Cattle closed at $188.950, up $0.650,
Oct 24 Feeder Cattle closed at $250.325, up $1.475,
Nov 24 Feeder Cattle closed at $250.300, up $1.150,
Jan 25 Feeder Cattle closed at $247.450, up $1.275,
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.
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