Cattle Bulls Taking a Breather on Wednesday
Live cattle futures are slipping back 12 to 47 cents at midday. There were 10 deliveries tendered against October live cattle for Amarillo on Tuesday. Cash trade has yet to be reported this week as the Wednesday Fed Cattle exchange saw no bids or sales on the 1,172 head offered. Feeder cattle futures are down $1.10 to $1.60 so far on the day. The CME Feeder Cattle Index was up another $4.02 at $373.02 on October 13.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel spread at $17.22. Choice boxes were up $2.11 to $366.53, while Select was $1.24 lower at $349.31. USDA federally inspected cattle slaughter for Tuesday was estimated at 120,000 head, with the weekly total at 226,000. That is 9,000 head above last week but 17,701 shy of the same week last year.
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Oct 25 Live Cattle are at $241.700, down $0.125,
Dec 25 Live Cattle are at $246.125, down $0.375,
Feb 26 Live Cattle are at $248.050, down $0.475,
Oct 25 Feeder Cattle are at $378.850, down $1.325
Nov 25 Feeder Cattle are at $379.725, down $1.600
Jan 26 Feeder Cattle are at $376.925, down $1.125
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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