Cattle Slip Lower into Monday’s Close
Live cattle futures posted modest losses of 57 cents to $1.42 at the Monday close. Cash trade has yet to be reported this week, with Monday mostly compiling showlists, as trade has been light in recent weeks. Feeder cattle futures were down $1.32 to $3.02 on Monday. The CME Feeder Cattle Index was $1.72 on September 24 to $338.79. The weekly OKC feeder cattle auction had an estimated 6,000 head for sale, with sales steady to $3 lower on feeder steers and steady on heifers. Calves were $5 to $15 lower for steers and $2-8 lower for heifers.
The Monday Crop Progress report showed the US pasture rating at 19% gd/ex, up 2% on the week. The Brugler500 index was back up 6 points to 248.
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Wholesale Boxed Beef prices were higher in the Friday PM report, with the Chc/Sel at $22.25. Choice boxes were up $1.65 at $380.48, with Select $2.47 higher to $358.23. Slaughter continues to be light following last week’s ICE raids in parts of Kansas. USDA estimated Federally inspected cattle slaughter for Monday at 95,000 head. That was even with last Monday and 10,000 head below the same Monday last year.
Oct 26 Live Cattle closed at $217.450, down $1.425,
Dec 26 Live Cattle closed at $220.800, down $1.350,
Feb 27 Live Cattle closed at $222.950, down $1.350,
Oct 26 Feeder Cattle closed at $331.900, down $3.025,
Nov 26 Feeder Cattle closed at $329.275, down $2.700,
Jan 27 Feeder Cattle closed at $321.975, down $2.375,
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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