Cattle futures considered a Turnaround Tuesday early in the day session, but are back down by another 57 to 85 cents for midday. That follows the 57c to $1.17 losses out of the weekend in a broad ag sell session. Midday feeder cattle futures are also in the red with 22 to 25 cent losses in the back months and a $1.12 loss for October. The week’s cash trade was mostly unestablished on Monday. USDA reported cash cattle trade on Friday near $182-$183 in the South. The Northern cash market was mostly steady near $185 for the week. The CME Feeder Cattle Index was 64 cents weaker to $252.75 on 9/15. The OKC feeder auction featured 7,500 head, with prices mostly $2-5 per hundred higher.
USDA’s AM Wholesale Boxed Beef Report showed Choice was $1.50 weaker to $303.82 and Select was 15c higher to $283.56 cwt. The ribs were shown at $508.42 and $435.86 cwt. respectively. USDA estimated 121k head for Monday’s FI cattle slaughter. That compares to 125k head both last week and the same week last year.
