Cattle Extending Weakness to Wednesday

Live cattle futures are slipping 62 cents to $1.97 on the Wednesday session. Cash trade has yet to get kicked off this week, with a few $224 live bids in the South and $345-348 dressed bids in the North. The Wednesday Fed Cattle exchange online auction showed no sales or bids on the 1,514 head offered. Feeder cattle futures are trading with contracts up 22 cents to $3.15 lower. The CME Feeder Cattle Index was back down 13 cents on September 14 to $341.58.

Wholesale Boxed Beef prices were weaker in the Wednesday morning report, with the Chc/Sel at $20.28. Choice boxes were down 3 cents at $376.05, with Select 59 cents lower to $355.77. USDA estimated Federally inspected cattle slaughter for Tuesday at 108,000 head, taking the weekly total to 211,000. That is well above the previous week due to the holiday but 21,182 head below the same week last year. 

Oct 26 Live Cattle  are at $220.075, down $0.625,

Dec 26 Live Cattle  are at $221.775, down $1.575,

Feb 27 Live Cattle  are at $222.700, down $1.975,

Sep 26 Feeder Cattle  are at $340.500, up $0.225

Oct 26 Feeder Cattle  are at $332.225, down $1.625

Nov 26 Feeder Cattle  are at $325.750, down $3.150

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.