Cattle Close Wednesday Mostly Higher
Live cattle futures were mostly higher, with contracts 12 to 50 cents higher and December down 22 cents. Cash trade has yet to develop this week. Wednesday’s Fed Cattle Exchange online auction showed no sales or bids on the 1,570 yead offered. Feeder cattle futures were up 15 cents to $2.27 at the close, with some deferreds down a tick. The CME Feeder Cattle Index was back up 19 cents on November 10 to $330.61.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel at $12.79. Choice boxes were down $2.72 to $360.26, with Select $4.15 lower at $347.47. USDA estimated Federally inspected cattle slaughter for Wednesday at 107,000 head, with the weekly total at 325,000 head. That was up 5,000 head from the week prior but down 24,766 head from the same week last year.
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Dec 26 Live Cattle closed at $218.975, down $0.225,
Feb 27 Live Cattle closed at $222.700, up $0.125,
Apr 27 Live Cattle closed at $225.625, up $0.500,
Nov 26 Feeder Cattle closed at $332.625, up $2.275,
Jan 27 Feeder Cattle closed at $327.800, up $1.125,
Mar 27 Feeder Cattle closed at $324.125, up $0.775,
On the date of publication, Austin Schroeder did not directly have a position 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.