Cattle Come Back to Close Mixed on Wednesday
Live cattle futures clawed back their way closer to steady on Wednesday, with contracts closing $1.17 lower to 25 cents higher. Cash trade has yet to get kicked off this week. The Wednesday Fed Cattle Exchange showed no sales on the 952 head offered, with $220 live bids and $349 dressed. Feeder cattle futures saw gains of 37 cents to $1.22 on the day. The CME Feeder Cattle Index was back up 45 cents on September 8 to $327.43.
Tuesday’s Crop Progress report showed the US pasture rating at 18% gd/ex, unchanged on the week prior. The Brugler500 index fell 2 points to 243.
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Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report, with the Chc/Sel widening to $28.43. Choice boxes were up $3.20 at $380.77, with Select $3.05 lower to $352.34. USDA estimated the Wednesday Federally inspected cattle slaughter at 109,000 head, with the weekly total at 220,000 head. That is well shy of last week’s total due to the Monday holiday.
Oct 26 Live Cattle closed at $215.850, down $1.175,
Dec 26 Live Cattle closed at $218.475, down $0.750,
Feb 27 Live Cattle closed at $220.325, down $0.125,
Sep 26 Feeder Cattle closed at $329.700, up $0.825,
Oct 26 Feeder Cattle closed at $325.825, up $0.375,
Nov 26 Feeder Cattle closed at $321.350, up $0.900,
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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