Cattle Slip Back on Wednesday
Live cattle futures were down 30 cents to $1.25 across the board on Wednesday The Wednesday Fed Cattle Exchange online auction showed $226 sales on one lot of the 2,914 head offered, with other bids of $223. Feeder cattle futures slipped into the close, with contract down $1.90 to $2.57 on the day. The CME Feeder Cattle Index was another 5 cents higher on October 13 to $341.42.
Tuesday’s Crop Progress report showed the US pasture rating at 22% gd/ex, down 1% on the week. The Brugler500 index was steady at 257.
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Wholesale Boxed Beef prices were higher in the Wednesday afternoon report, with the Chc/Sel at $18.03. Choice boxes were up $1.35 to $376.50, with Select $4.80 higher to $358.47. USDA estimated Federally inspected cattle slaughter for Wednesday at 110,000 head, with the week to date total at 326,000 head. That was up 3,000 from the week prior but 20,789 head below the same week last year.
Oct 26 Live Cattle closed at $223.900, down $0.725,
Dec 26 Live Cattle closed at $225.125, down $1.250,
Feb 27 Live Cattle closed at $227.425, down $1.150,
Oct 26 Feeder Cattle closed at $340.950, down $2.125,
Nov 26 Feeder Cattle closed at $338.450, down $2.575,
Jan 27 Feeder Cattle closed at $333.600, down $2.250,
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.
