Cattle Bulls Back to Rallying on Wednesday
Live cattle futures are in rally mode on Wednesday, with contracts up $1.82 to $2.90 at midday. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,696 head offered with bids reported at $223. Early cash trade has been reported at $350 dressed in the North. Feeder cattle futures are down 20 cents in soon to expire September, with other contracts $5 to $6 higher The CME Feeder Cattle Index was down 71 cents on September 21 to $338.74.
Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel at $25.23. Choice boxes were down 39 cents at $378.50, with Select $4.58 lower to $353.27. USDA estimated Federally inspected cattle slaughter for Tuesday at 105,000 head and taking the week to date total at 210,000 head. That was 1,000 head below last week and 19,195 head below the same week last year.
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Oct 26 Live Cattle are at $220.600, up $1.825,
Dec 26 Live Cattle are at $222.175, up $2.725,
Feb 27 Live Cattle are at $223.450, up $2.900,
Sep 26 Feeder Cattle are at $337.075, down $0.200
Oct 26 Feeder Cattle are at $333.075, up $5.050
Nov 26 Feeder Cattle are at $329.200, up $6.000
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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