Cattle Mixed at Midday

Nearby October and December fat cattle futures are trading with 12 to 22 cent gains through midday. The 23 contracts are in the red, though within 20 cents of UNCH. Thursday’s FCE saw 238 of the 1,283 head sold for $141. USDA confirmed some light Southern trade near $142-$143, steady to $1 higher wk/wk, with Northern dressed sales gravitating towards $232-$234, steady to up $2. Feeder cattle futures are trading higher so far, with gains of 37 cents to $1.02 at midday. The CME Feeder Cattle Index was $183.04 on 8/30, back up by 4 cents.   

Wholesale Boxed Beef prices weakened in the Thursday AM report as Choice was another 80 cents lower and Select dropped 97 cents. USDA estimated the week’s FI cattle slaughter at 373k head through Wednesday. That is down 2k head from last week’s pace but up 18,000 from the same week last year. 

Oct 22 Cattle  are at $142.750, up $0.175,

Dec 22 Cattle  are at $148.525, up $0.050,

Feb 23 Cattle  are at $153.100, down $0.225,

Sep 22 Feeder Cattle  are at $182.875, up $0.425

Oct 22 Feeder Cattle  are at $184.200, up $0.725