Live cattle futures are trading with contracts up 70 to 95 cents at midday. This morning’s Central Stockyards Fed Cattle Exchange online auction showed no sales on the 2,636 head listed, with bids hitting $182-186.50. A few early sales have been reported in the north at $187 so far this week. Southern bids are hitting $186-187 so far on Thursday. Feeder cattle futures are 55 to 95 cents so far on Thursday. The CME Feeder Cattle Index was up 73 cents at $249.48 on October 8.
Beef export sales totaled 13,702 MT in the week that ended on October 3, back down from the previous week. China was the top buyer in that week, of 4,200 MT, with Japan purchasing 3,500 MT. Export shipments were 16,044 MT, a 9.56% drop from the week prior. The top destination was South Korea of 4,300 MT, with 3,500 MT to Japan.
USDA wholesale Boxed Beef prices were higher in the Thursday AM report. Choice boxes were up $1.44 to $309.62/cwt, with Select $1.80 higher @ $290.43. The Chc/Select spread narrowed to $19.19. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, bringing the weekly total to 359,000 head. That is 8,000 head below the previous week and down 17,989 head from the week last year.
Oct 24 Live Cattle are at $188.900, up $0.700,
Dec 24 Live Cattle are at $188.175, up $0.950,
Feb 25 Live Cattle are at $188.875, up $0.700,
Oct 24 Feeder Cattle are at $249.825, up $0.550
Nov 24 Feeder Cattle are at $249.625, up $0.950
Jan 25 Feeder Cattle are at $246.700, up $0.825
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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