Live cattle futures are showing $1.35 to $1.85 losses across most contracts on Wednesday. Cash has been slow early this week with very little action early. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,356 head, with bids at $245. Feeder cattle futures are own 60 to 75 cents but pulling off early lows. The CME Feeder Cattle Index was back up $2.08 on July 6 to $373.19.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel spread at $19.31. Choice boxes were down $3.56 at $382.21, with Select $2.99 lower to $362.90. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, taking the weekly total to 210,000 head. That was down 4,000 from the previous week and 21,970 head below the same week last year.
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Aug 26 Live Cattle are at $236.575, down $1.850,
Oct 26 Live Cattle are at $232.675, down $1.350,
Dec 26 Live Cattle are at $232.625, down $1.375,
Aug 26 Feeder Cattle are at $360.050, down $0.600
Sep 26 Feeder Cattle are at $356.775, down $0.625
Oct 26 Feeder Cattle are at $353.050, down $0.725
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
