Live cattle futures posted $1.50 to $3.10 gains across the board on the Midweek session. Early cash trade has been reported at $350 dressed in the North, with $223 live bids. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,696 head offered with bids reported at $223. Feeder cattle futures saw a 75 cent loss in the soon to expire September contract (Thursday), with other contracts $5.30 to $6.92 higher at the close. The CME Feeder Cattle Index was down $1.76 on September 22 to $336.98.
Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel at $24.97. Choice boxes were down $1.58 at $377.31, with Select $5.51 lower to $352.34. USDA estimated Federally inspected cattle slaughter for Wednesday at 94,000 head and taking the week to date total at 299,000 head. That is 14,000 head below last week on a revision to Tuesday and 52,109 head below the same week last year.
Oct 26 Live Cattle closed at $220.925, up $2.150,
Dec 26 Live Cattle closed at $222.350, up $2.900,
Feb 27 Live Cattle closed at $223.650, up $3.100,
Sep 26 Feeder Cattle closed at $336.525, down $0.750,
Oct 26 Feeder Cattle closed at $333.325, up $5.300,
Nov 26 Feeder Cattle closed at $329.500, up $6.300,
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.
