Live cattle futures are trading with losses of 65 cents to $1.37 on Wednesday. Cash trade has yet to kick off this week, with a few bids of $190 being reported so far on Wednesday morning. This morning’s Central Stockyards Fed Cattle Exchange showed sales on one lot of $190.50 using the BidTheGrid™ method. Other bids ranged from 185 to $190.50. Feeder cattle futures are down $1 to $2 on Wednesday, with October up 40 cents ahead of Thursday’s expiration. The CME Feeder Cattle Index was up 12 cents at $249.49 on October 28.
USDA wholesale Boxed Beef prices were lower in the Wednesday morning report. Choice boxes were down $1.09 to $319.52/cwt, with Select 50 cents lower @ $289.46. The Chc/Sel spread narrowed to $30.06. USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, with the weekly total at 245,000. That is 2,000 head above the previous week but down 6,229 head from the same week last year.
Oct 24 Live Cattle are at $188.650, down $0.650,
Dec 24 Live Cattle are at $186.725, down $1.225,
Feb 25 Live Cattle are at $187.250, down $1.375,
Oct 24 Feeder Cattle are at $250.425, up $0.400
Nov 24 Feeder Cattle are at $245.525, down $1.075
Jan 25 Feeder Cattle are at $242.125, down $1.900
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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