Cattle Fade Lower on Turnaround Tuesday Weakness

Live cattle futures faded back on Tuesday with contracts down $1.42 to $1.90.  Cash trade has yet to get kicked off this week, as last week showed sales $1-6 higher than the previous week at $222-225. Feeder cattle futures posted $2.80 to $4 losses on Tuesday. The CME Feeder Cattle Index was back down 13 cents on September 14 to $341.58. The weekly OKC feeder cattle auction showed sales on 5,198 head, with steers up $15-25 and heifers $10-20 higher.

Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel narrowing to $19.72. Choice boxes were up 77 cents at $376.08, with Select $1.81 higher to $356.36. 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  closed at $220.700, down $1.550,

Dec 26 Live Cattle  closed at $223.350, down $1.800,

Feb 27 Live Cattle  closed at $224.675, down $1.625,

Sep 26 Feeder Cattle  closed at $340.275, down $3.300,

Oct 26 Feeder Cattle  closed at $333.850, down $4.000,

Nov 26 Feeder Cattle  closed at $328.900, down $3.875,

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.