Live cattle futures are falling $1 to $1.25 so far on Wednesday. Cash trade has been quiet so far this week, with a few $359 dressed sales creeping in following last week’s $225-228 live and $362-368 dressed action. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,520 head offered, and a single $225 bid. Feeder cattle futures are down $1.40 to $2.85 at midday. Gains in the corn market nearing $5 on December, are not supportive. The CME Feeder Cattle Index was down another 88 cents on August 17 to $343.55.
Wholesale Boxed Beef prices were mixed in the Wednesday morning report, widening the Chc/Sel spread back out to $30.49. Choice boxes were up $4.13 at $395.28, with Select $1.50 lower to $364.79. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 106,000 head, taking the total to 203,000 head for the week. That is up 1,000 head from the previous week but 15,217 head below the same week last year.
Aug 26 Live Cattle are at $223.825, down $1.075,
Oct 26 Live Cattle are at $217.925, down $1.000,
Dec 26 Live Cattle are at $217.950, down $1.250,
Aug 26 Feeder Cattle are at $337.825, down $1.400
Sep 26 Feeder Cattle are at $330.550, down $2.800
Oct 26 Feeder Cattle are at $323.475, down $2.850
