Live cattle futures were 67 cents to $1.20 higher across the nearbys at midday. The Wednesday Fed Cattle Exchange online saw no sales on the 1,520 head offered, with just a couple bids of $253. Outside of that, there have been $252-255 bids across the country on Wednesday. Feeder cattle futures are $2.15 to $2.20 gains so far at midday. The CME Feeder Cattle Index was down $2.52 on June 29 to $377.40.
Wholesale Boxed Beef prices were lower in the Wednesday afternoon, with the Chc/Sel spread at $22.39. Choice boxes were down 19 cents at $392.97, with Select $1.10 lower to $370.58. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the weekly total at 214,000 head. That was down 2,000 from the previous week on a 3,000 head revision lower to Monday and 24,022 head below the same week last year.
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Aug 26 Live Cattle are at $243.100, up $0.675,
Oct 26 Live Cattle are at $237.825, up $1.175,
Dec 26 Live Cattle are at $237.400, up $1.025,
Aug 26 Feeder Cattle are at $366.775, up $2.175
Sep 26 Feeder Cattle are at $364.725, up $2.200
Oct 26 Feeder Cattle are at $361.825, up $2.175
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.
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