Cattle Close Mixed on Wednesday

Live cattle futures were mixed on Wednesday with nearbys up 5 to 7 cents lower. Cash trade was slow last week, with some Southern action at $182-183, down $1-2 and the North steady at $184. The Central Stockyards Fed Cattle Exchange online auction showed 0 sales on the 1,548 head listed on Wednesday morning, with bids of $180-180.25. Feeder cattle futures were down $1.45 to $1.87, pressured by strength in corn. The CME Feeder Cattle Index was down 45 cents at $239.53 on September 3. 

Census data converted to a carcass weight basis showed 257.6 million lbs of beef shipped in July. That is back up 7.3% from last year and the first yr/yr increase since October 2022, but down 2.2% from June.

USDA wholesale Boxed Beef prices were mixed in the Wednesday afternoon report. Choice boxes were up 93 cents at $311.60, with Select products 72 cents lower @ $299.39. The Chc/Select spread widened to $12.21. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 252,000. That is well below the previous week due to the holiday and 6,554 head below the same week last year.

Oct 24 Live Cattle  closed at $179.225, down $0.050,

Dec 24 Live Cattle  closed at $178.900, up $0.050,

Feb 25 Live Cattle  closed at $179.500, down $0.075,

Sep 24 Feeder Cattle  closed at $239.625, down $1.750,

Oct 24 Feeder Cattle  closed at $237.450, down $1.875,

Nov 24 Feeder Cattle  closed at $235.175, down $1.450,

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