Live cattle futures saw mixed trade on Wednesday with front months down 7 to 15 cents and deferreds 5 to 25 cents higher. Cash trade has yet to get kicked off this week, with this morning’s Central Stockyards FCE online auction showing no sales on the 1,100 head, with bids of $179-182. Last week saw sales of $183 in the South last week, with northern sales at $184-185. Feeder cattle futures were up a tick to 65 cents across the board on Wednesday. The CME Feeder Cattle Index was up another 28 cents at $244.30 on September 24.
USDA wholesale Boxed Beef prices were sharply lower in the Wednesday PM report. Choice boxes were down $3.72 to $298.17/cwt, with Select $3.59 lower @ $283.28. The Chc/Select spread tightened to $14.89. USDA estimated Wednesday’s federally inspected cattle slaughter at 120,000, taking the weekly total to 363,000 head. That is 8,000 head below the previous week and 16,888 head below the same week last year.
Oct 24 Live Cattle closed at $183.050, down $0.150,
Dec 24 Live Cattle closed at $184.325, down $0.075,
Feb 25 Live Cattle closed at $185.500, up $0.075,
Sep 24 Feeder Cattle closed at $245.375, up $0.425,
Oct 24 Feeder Cattle closed at $246.025, up $0.225,
Nov 24 Feeder Cattle closed at $244.050, up $0.650,
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