Live cattle futures closed Wednesday with contracts $1.70 to $3.35 higher across the board. Cash trade has been limited so far, with last week at $260 to $265 across the country. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,008 head offered, with bids of $255. Feeder cattle futures posted Wednesday gains of $3.80 to $5.17 on the day. The CME Feeder Cattle Index was down $4.23 on May 25 to $367.26.
Wholesale Boxed Beef prices were mixed in the Wednesday PM report, with the Chc/Sel spread at $5.43. Choice boxes were up $1.82 to $394.72, while Select was $1.01 lower at $389.29. USDA estimated federally inspected cattle slaughter for Wednesday at 110,000 head, with the weekly total at 222,000 head. That was down 20,284 head from the same post-Memorial Day week last year.
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Jun 26 Live Cattle closed at $251.425, up $3.200,
Aug 26 Live Cattle closed at $242.500, up $3.350,
Oct 26 Live Cattle closed at $233.975, up $3.025,
Aug 26 Feeder Cattle closed at $354.625, up $5.175,
Sep 26 Feeder Cattle closed at $351.800, up $4.775,
Oct 26 Feeder Cattle closed at $348.475, up $4.575,
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.
