Cattle Facing Midweek Pressure
Live cattle futures are mixed with October up 30 cents and other contracts down 65 to 95 cents. Cash trade has yet to get kicked off this week, following last week’s live northern sales at $220-222 and southern trade reported at $226. The Wednesday Fed Cattle Exchange online auction showed no sales or bids on the 2,408 head offered. Feeder cattle futures are showing $1.40 to $2.40 losses at midday. The CME Feeder Cattle Index was 54 cents lower on October 5 to $337.22.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel at $19.52. Choice boxes were down $3.28 to $375.65, with Select 21 cents lower to $356.13. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, taking the weekly total at 212,000 head. That was up 9,000 from the week prior and 6,510 head below the same week last year.
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Oct 26 Live Cattle are at $221.525, up $0.300,
Dec 26 Live Cattle are at $223.475, down $0.625,
Feb 27 Live Cattle are at $226.225, down $0.950,
Oct 26 Feeder Cattle are at $338.100, down $2.400
Nov 26 Feeder Cattle are at $335.900, down $2.375
Jan 27 Feeder Cattle are at $330.425, down $1.400
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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