Live cattle futures closed the Wednesday session, with contracts continuing to bounce from Monday’s weakness, up 42 cents to $2.07 higher. Early bids of $228 were reported this week though trade has been inactive. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,054 head offered and a few bids of $228. Feeder cattle futures continued to claw back losses from Monday on Wednesday, with contracts $1.20 to $3.25 higher. The CME Feeder Cattle Index was back down 56 cents on July 28 to $347.91.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report. Choice boxes were down $2.43 at $363.43, with Select $1.11 higher to $342.41. USDA’s Federally inspected cattle slaughter for Wednesday at 107,000 head, with the weekly total at 305,000 head. That is up 2,000 head from the previous week and 30,686 head below the same week last year.
Aug 26 Live Cattle closed at $227.900, up $0.425,
Oct 26 Live Cattle closed at $223.975, up $1.800,
Dec 26 Live Cattle closed at $223.325, up $2.025,
Aug 26 Feeder Cattle closed at $344.275, up $1.200,
Sep 26 Feeder Cattle closed at $338.650, up $1.425,
Oct 26 Feeder Cattle closed at $329.625, up $2.800,
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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