Cattle Rally on Wednesday
Live cattle future rallied on Wednesday, with contracts up $1.07 to $2.95 across the board. This morning’s Central Stockyards Fed Cattle Exchange online auction saw 519 head sold of the 2,652 head offered, at $186 live in TX and $188.50 using the BidTheGrid™ method. Feeder cattle futures were $3.07 to $3.87 higher at the close. The CME Feeder Cattle Index was down 9 cents at $247.29 on October 1.
USDA wholesale Boxed Beef prices were lower in the Wednesday PM report. Choice boxes were down 36 cents to $299.81 /cwt, with Select $1.37 lower @ $283.93. The Chc/Select spread widened to $15.88. USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, taking the weekly total to 367,000 head. That is 4,000 head above the previous week but 6,888 head below the same week last year.
Oct 24 Live Cattle closed at $187.425, up $2.950,
Dec 24 Live Cattle closed at $187.700, up $2.525,
Feb 25 Live Cattle closed at $188.400, up $2.225,
Oct 24 Feeder Cattle closed at $249.725, up $3.575,
Nov 24 Feeder Cattle closed at $248.550, up $3.875,
Jan 25 Feeder Cattle closed at $242.075, up $3.625,
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.
