Live cattle futures extended their slide on Wednesday with loses of 42 cents to $1.42. There were no sales reported on Wednesday’s Central Stockyard Fed Cattle Exchange, with bids running $188-191. No trade was reported on Monday, with most compiling showlists. Beyond that there have been bids reported in the $195 range in the North. There were no deliveries issued against December live cattle on Wednesday. Feeder cattle futures were down 50 to 90 cents on the session. The CME Feeder Cattle Index was up 46 cents from the day prior at $263.00 on December 17.
USDA’s monthly Cattle on Feed report will be released on Friday, with most expecting to see November placements down 5.1% from last year and marketing 1.8% below a year ago. December 1 on feed inventory is expected to be down 0.3% vs. 2023.
USDA wholesale Boxed Beef prices were again lower in the Wednesday afternoon report. Choice boxes were down 79 cents to $314.84/cwt, with Select $2.95 lower @ $285.55. USDA estimated Wednesday’s federally inspected cattle slaughter at 123,000 head, taking the week to date total to 364,000 head. That is even with the previous week but down 7,498 from the same week last year.
Dec 24 Live Cattle closed at $191.300, down $0.950,
Feb 25 Live Cattle closed at $188.325, down $1.425,
Apr 25 Live Cattle closed at $190.475, down $1.100,
Jan 25 Feeder Cattle closed at $257.000, down $0.475,
Mar 25 Feeder Cattle closed at $257.375, down $0.900,
Apr 25 Feeder Cattle closed at $258.400, down $0.975,
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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