Live cattle futures fell back $1.47 to $2.05 across most contracts on Wednesday, ignoring the stronger beef. Cash trade has picked up a few at $355-360. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,520 head offered, and a single $225 bid. Feeder cattle futures were down $2.37 to $4.92 at the Wednesday close. Gains in the corn market nearing $5 on December, were not supportive. The CME Feeder Cattle Index was down another $1.19 on August 18 to $342.36.
Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report, widening the Chc/Sel spread back out to $30.82. Choice boxes were up $3.84 at $394.99, with Select $2.12 lower to $364.17. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 106,000 head, taking the total to 309,000 head for the week. That is down 1,000 head from the previous week but 25,007 head below the same week last year.
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Aug 26 Live Cattle closed at $223.425, down $1.475,
Oct 26 Live Cattle closed at $217.225, down $1.700,
Dec 26 Live Cattle closed at $217.150, down $2.050,
Aug 26 Feeder Cattle closed at $336.850, down $2.375,
Sep 26 Feeder Cattle closed at $329.125, down $4.225,
Oct 26 Feeder Cattle closed at $322.050, down $4.275,
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.
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