Cattle Hold onto Gains on Tuesday

Live cattle futures were $1.75 to $1.82 higher in the front months on Tuesday. There were no new deliveries on Tuesday for October live cattle. Cash trade has been quiet this week, with last week settling in at $240-241 across the country. Feeder cattle futures were up 80 cents to $1.20 in the front months, with October down a tick on Tuesday. The CME Feeder Cattle Index was back down $3.16 at $372.99 on October 20. The Monday OKC feeder cattle auction had 6,298 head sold, with feeders down $5-15. Steer calves were steady with lighter weights up $10-20 and heifer calves down $5-15. 

USDA Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, widening the Chc/Sel spread at $19.36. Choice boxes were up $2.75 to $371.93, while Select was 89 cents lower at $352.57. USDA federally inspected cattle slaughter for Tuesday was estimated at 117,000 head, with the weekly total at 209,000 head. That is 17,000 head below last week and 34,432 shy of the same week last year. 

Oct 25 Live Cattle  closed at $243.675, up $1.825,

Dec 25 Live Cattle  closed at $245.425, up $1.775,

Feb 26 Live Cattle  closed at $246.275, up $1.750,

Oct 25 Feeder Cattle  closed at $372.925, down $0.025,

Nov 25 Feeder Cattle  closed at $373.475, up $0.800,

Jan 26 Feeder Cattle  closed at $370.275, up $1.100,