Live cattle futures are up 75 to 95 cents in the front months. There were no deliveries again for October live cattle on Tuesday. Cash trade has yet to pick up this week across the country, with a few $230 in IA reported on Tuesday. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,866 head offered, with bids at $230. Feeder cattle futures are extending more the gains on Wednesday with contracts up another $2.85 to $3.35. The CME Feeder Cattle Index was up another $0.77 at $364.24 on October 6.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel spread widening to $21.99. Choice boxes were up $1.40 to $367.37, while Select was $3.50 lower to $345.38. USDA federally inspected cattle slaughter for Tuesday was estimated at 116,000 head, with the weekly total at 217,000 head. That was 16,000 head below last week and 16,708 shy of the same week last year.
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Oct 25 Live Cattle are at $234.000, up $0.900,
Dec 25 Live Cattle are at $238.500, up $0.775,
Feb 26 Live Cattle are at $241.675, up $0.950,
Oct 25 Feeder Cattle are at $368.375, up $2.875
Nov 25 Feeder Cattle are at $367.575, up $3.325
Jan 26 Feeder Cattle are at $362.300, up $3.300
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.
