Live cattle futures are falling lower on Wednesday, with contracts down $2.40 to $3.10 lower at midday. Cash trade has yet to get kicked of this week as last week settled in at $238-240 in the north, with Southern trade at $237-238. Wednesday’s Fed Cattle Exchange online auction showed no sales on the 1,530 head, with bids at $230-230.50. Feeder cattle futures are facing sharp losses of $6.40 to $7.40 on Wednesday. CME Feeder Cattle Index was down another $3.49 on July 20 to $356.22.
Wholesale Boxed Beef prices were weaker in the Wednesday morning report. Choice boxes were $2.66 lower at $364.25, with Select down $1.68 to $352.55. USDA’s Federally inspected cattle slaughter for Tuesday was 103,000, with the weekly slaughter at 205,000 head. That is down 11,000 head from the previous week on a revision to Monday and 14,487 head below the same week last year.
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Aug 26 Live Cattle are at $224.250, down $2.425,
Oct 26 Live Cattle are at $220.175, down $3.050,
Dec 26 Live Cattle are at $219.800, down $3.100,
Aug 26 Feeder Cattle are at $343.125, down $6.425
Sep 26 Feeder Cattle are at $338.475, down $6.500
Oct 26 Feeder Cattle are at $332.175, down $7.400
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.
