Live cattle closed out the Wednesday session with contracts $1.20 to $2.07 lower. Cash action has been quiet this week with some light $190 reported in the North. The Central Stockyards online Fed Cattle Exchange auction saw sales of $188 on 114 head of TX, $191.50 on 40 head out of IA, and $300 in the beef on another 40 head out of IA on the 1,468 head offered. Feeders were again the leaders on Wednesday, this time to the downside with losses of $2.60 to $4.35. The CME Feeder Cattle index was up 5 cents on May 28 to $248.68.
China has restricted imports from a Colorado JBS plant after traces of ractopamine were picked up in samples of beef headed to China. No other restrictions are expected to other plants across the US.
USDA’s Wholesale Boxed Beef prices were mixed on Wednesday afternoon. Choice boxes were up $1.50 at $313.62, with Select 95 cents lower to $302.48. The Chc/Sel spread is now at $11.14. USDA estimated Wednesday’s FI cattle slaughter at 125,000 head, with the WTD total at 250,000. That is well below last week due to the holiday and down 4,528 head from the same week last year.
Jun 24 Live Cattle closed at $183.350, down $1.200,
Aug 24 Live Cattle closed at $180.200, down $1.625,
Oct 24 Live Cattle closed at $182.450, down $1.950,
Aug 24 Feeder Cattle closed at $260.250, down $4.350,
Sep 24 Feeder Cattle closed at $261.800, down $3.900,
Oct 24 Feeder Cattle closed at $262.550, down $3.700,
On the date of publication, Alan Brugler 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 Barchart Disclosure Policy here.
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