Live cattle futures are trading with 65 to 90 cent gains so far on the Wednesday session. Cash trade has yet to get kicked off this week. This morning’s Central Stockyards Fed Cattle Exchange showed no sales on the 3,044 head offered and bids ranging from $185-187. Feeder cattle futures are up 90 cents to $1.50. The CME Feeder Cattle Index was down 27 cents at $250.73 on November 4.
USDA wholesale Boxed Beef prices were lower in the Wednesday morning report. Choice boxes were down 36 cents to $316.85/cwt, with Select $1.49 lower @ $283.75. The Chc/Sel spread widened to $33.10. USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, taking the week to date total to 244,000 head. That is 1,000 head below the previous week and down 4,334 head from the same week last year.
Dec 24 Live Cattle are at $185.425, up $0.650,
Feb 25 Live Cattle are at $186.825, up $0.875,
Apr 25 Live Cattle are at $187.725, up $0.725,
Nov 24 Feeder Cattle are at $247.625, up $1.475
Jan 25 Feeder Cattle are at $243.800, up $1.450
Mar 25 Feeder Cattle are at $241.475, up $0.975
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.
