Cattle Fall Back on Midweek Pressure
Live cattle futures saw losses of a nickel to 62 cents on Wednesday, with October up 37 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 posted losses of 52 cents to $2.47 cents across the board on Tuesday. The CME Feeder Cattle Index was 65 cents lower on October 6 to $337.87.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel at $21.41. Choice boxes were down $3.31 to $375.62, with Select $2.13 lower to $354.21. USDA estimated Federally inspected cattle slaughter for Tuesday at 108,000 head, taking the weekly total at 320,000 head. That was up 19,000 from the week prior but 16,494 head below the same week last year.
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Oct 26 Live Cattle closed at $221.600, up $0.375,
Dec 26 Live Cattle closed at $223.775, down $0.325,
Feb 27 Live Cattle closed at $226.550, down $0.625,
Oct 26 Feeder Cattle closed at $338.150, down $2.350,
Nov 26 Feeder Cattle closed at $335.800, down $2.475,
Jan 27 Feeder Cattle closed at $330.400, down $1.425,
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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