Live cattle futures settled Wednesday with contracts up 60 cents to $1.40 across most months. Cash trade has yet to kick off this week, with sales of $185-187 in the South and with northern trade at $193 last week. The Central Stockyards Fed Cattle Exchange showed no sales on the 944 head listed in today’s online auction, as bids were reported at $185 live and $186-187 using their BidTheGrid™ method. Feeder cattle futures closed out the day with gains of $1.42 to $2.17. The CME Feeder Cattle Index was down $0.23 at $245.32 on August 13.
USDA wholesale Boxed Beef were lower in the Wednesday PM report. Choice boxes were down $2.05 at $314.6388 with Select product 11 cents lower @ $300.50. The Chc/Select spread was thus narrowed to $13.38. USDA estimated Wednesday FI slaughter at 122,000 head, taking the weekly total to 356,000 head. That is down 7,000 head from the previous week and 10,991 head below the same week last year.
Aug 24 Live Cattle closed at $184.600, up $0.600,
Oct 24 Live Cattle closed at $182.125, up $1.375,
Dec 24 Live Cattle closed at $181.600, up $1.300,
Aug 24 Feeder Cattle closed at $247.900, up $1.425,
Sep 24 Feeder Cattle closed at $244.350, up $2.070,
Oct 24 Feeder Cattle closed at $242.100, up $2.175,
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