Live cattle futures posted losses of 77 cents to $1.42 on Wednesday. Cash trade has yet to get kicked off this week, with a few light northern deals at $184 so far. Last week’s cash sales at $182-185 in the south, with northern trade at $184-188. The Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,706 head, with bids of up to $182 in the South. Feeder cattle futures were down 62 to 65 cents in the front months, with October up 20 cents. The CME Feeder Cattle Index was up a penny at $242.64 on August 27.
USDA wholesale Boxed Beef prices were lower in the Wednesday afternoon report, as Labor Day demand is starting to slow from the retail side. Choice boxes were down $4.68 at $307.29, with Select products $2.62 lower @ $297.63. The Chc/Select spread was narrowed to $9.66. USDA estimated Tuesday’s federally inspected cattle slaughter at 120,000 head, taking the weekly total to 354,000 head. That is down 9,000 head from the previous week and 20,966 head below the same week last year.
Aug 24 Live Cattle closed at $183.750, down $1.425,
Oct 24 Live Cattle closed at $178.625, down $0.775,
Dec 24 Live Cattle closed at $177.775, down $1.075,
Aug 24 Feeder Cattle closed at $243.550, down $0.650,
Sep 24 Feeder Cattle closed at $241.300, down $0.625,
Oct 24 Feeder Cattle closed at $238.575, up $0.200,
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