Cattle Fading Back Lower on Friday
Live cattle futures are down 45 cents to $1.50 at midday. October options expire today. Cash trade saw some light $348-350 dressed action in the North so far this week as reported by USDA, with live sales at $220-222. Southern bids were reported at $226. The Friday Fed Cattle Exchange online auction showed sales of $226 on one lot. Feeder cattle futures are the leaders to the downside, falling $3.45 to $4.27. The CME Feeder Cattle Index was 94 cents higher on September 28 to $338.97.
Wholesale Boxed Beef prices were mixed in the Friday AM report, with the Chc/Sel at $21.00. Choice boxes were down $2.43 at $374.36, with Select 47 cents higher to $353.36. USDA estimated Federally inspected cattle slaughter for Thursday at 109,000 head, taking this week’s total to 410,000 head. That was up 21,000 from last week but 52,479 head below the same week last year.
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Oct 26 Live Cattle are at $218.850, down $0.450,
Dec 26 Live Cattle are at $222.275, down $0.900,
Feb 27 Live Cattle are at $223.925, down $1.525,
Oct 26 Feeder Cattle are at $335.425, down $3.450
Nov 26 Feeder Cattle are at $332.075, down $4.275
Jan 27 Feeder Cattle are at $325.700, down $4.000
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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