Live cattle futures ended Wednesday with gains of 57 to 90 cent gains across the board. Cash trade has yet to kick off this week, with some light sales of $180-181 reported in the South. Wednesday’s Fed Cattle Exchange showed no sales on the 1,422 head listed, with bids of $178-180. Feeder cattle futures posted $1.20 to $2.10 gains across the board. The CME Feeder Cattle Index was up a nickel at $243.04 on September 10.
USDA wholesale Boxed Beef prices were lower in the Wednesday PM report. Choice boxes were down another 87 cents @ $307.36, with Select $2.63 lower at $294.38. The Chc/Select spread widened to $12.95. USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, taking the weekly total to 362,000 head. That is well above the previous week due to the holiday but 14,618 head below the same week last year.
Oct 24 Live Cattle closed at $176.950, up $0.625,
Dec 24 Live Cattle closed at $177.225, up $0.800,
Feb 25 Live Cattle closed at $178.325, up $0.800,
Sep 24 Feeder Cattle closed at $240.550, up $2.075,
Oct 24 Feeder Cattle closed at $237.500, up $2.100,
Nov 24 Feeder Cattle closed at $234.025, up $1.750,
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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
