Live cattle futures came back to close Wednesday mixed, with contracts mostly 37 to 82 cents higher and October down 17 cents. Cash trade picked up to $220 Wednesday, firming $2 from Tuesday, with a few dressed sales of $345 in the north. The Wednesday morning Fed Cattle Exchange online auction showed no sales on 2,000 head offered and bids of $218 to $220. Feeder cattle futures closed the session down 27 to 97 cents across the front months on Wednesday, with other contracts up 92 cents to $3 in some deferreds. The CME Feeder Cattle Index was down another $1.19 on August 25 to $334.27.
Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel widening to $22.45. Choice boxes were up $3.40 at $385.13, with Select $6.30 higher to $362.68. USDA estimated Wednesday’s Federally inspected cattle slaughter at 105,000 head, with the weekly total at 310,000 head. That is up 1,000 head from the previous week, but 35,746 head below the same week last year.
Aug 26 Live Cattle closed at $218.475, up $0.375,
Oct 26 Live Cattle closed at $210.775, down $0.175,
Dec 26 Live Cattle closed at $212.575, up $0.450,
Aug 26 Feeder Cattle closed at $332.750, down $0.975,
Sep 26 Feeder Cattle closed at $319.000, down $0.275,
Oct 26 Feeder Cattle closed at $314.250, up $0.925,
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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