Live cattle futures are trading with contracts a nickel lower to 30 cents higher so far on Friday. Cash trade kicked off on Thursday, with a few sales of $184-185 in the South, up $1-2 on the week. Northern sales were in a range of $186-187. Feeder cattle futures are up 20 to 85 cents at midday. The CME Feeder Cattle Index was back down 10 cents at $244.20 on September 25.
Cold Storage data showed August 31 beef stocks at 395.186 million lbs. That was slightly below the same time last year, while also being a 10-year low, and was a 1.83% drop from the end of July.
USDA wholesale Boxed Beef prices were mixed in the Friday AM report. Choice boxes were back up 50 cents to $296.87/cwt, with Select 11 cents lower @ $282.26. The Chc/Select spread widened back out to $14.61. USDA estimated Thursday’s federally inspected cattle slaughter at 124,000, taking the weekly total to 487,000 head. That is 6,000 head below the previous week and 17,007 head below the same week last year.
Oct 24 Live Cattle are at $184.400, up $0.300,
Dec 24 Live Cattle are at $184.775, down $0.050,
Feb 25 Live Cattle are at $185.825, up $0.175,
Oct 24 Feeder Cattle are at $247.125, up $0.200
Nov 24 Feeder Cattle are at $245.825, up $0.850
Jan 25 Feeder Cattle are at $239.575, up $0.825
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