Cattle Showing Mixed Midweek Trade
Live cattle futures fading 10 to 97 cents lower in the front months on Wednesday. Cash trade has yet to develop this week. Wednesday’s Fed Cattle Exchange online auction showed no sales or bids on the 1,570 yead offered. Feeder cattle futures are holding up with contracts up $1.04 to 30 cents lower at midday. The CME Feeder Cattle Index was back down $2.43 on November 9 to $330.42.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel at $11.19. Choice boxes were down $2.38 to $360.60, with Select $2.21 lower at $349.41. USDA estimated Federally inspected cattle slaughter for Tuesday at 111,000 head, with the weekly total at 218,000 head. That was up 7,000 head from the week prior but down 10,750 head from the same week last year.
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Dec 26 Live Cattle are at $218.225, down $0.975,
Feb 27 Live Cattle are at $222.125, down $0.450,
Apr 27 Live Cattle are at $225.025, down $0.100,
Nov 26 Feeder Cattle are at $331.400, up $1.050
Jan 27 Feeder Cattle are at $326.900, up $0.225
Mar 27 Feeder Cattle are at $323.150, down $0.200
On the date of publication, Austin Schroeder did not directly have a position 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.