Live cattle futures are up $1.27 to $1.77 so far on Wednesday’s midday, to take back some of Wednesday’s weakness. Cash activity kicked off on Tuesday with light dressed sales of $375-378 in the North, down $5 from last week. Live bids are being reported at $235-236 so far on Wednesday. This morning’s Fed Cattle Exchange online auction showed no sales on the 1,516 head offered, with bids of $230-235. Feeder cattle futures are taking some of the limit Tuesday losses back on Wednesday, with midday gains of 25 cents to $2.85. Due to limit losses in the feeders on Tuesday, today’s limits are expanded to $10.75 for fats and $13.75 on the feeders. The CME Feeder Cattle Index was back down $1.17 at $365.86 on September 8.
USDA Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel spread narrowing to $20.51. Choice boxes were down $1.20 at $406.47, while Select was $1 lower to $385.96. USDA federally inspected cattle slaughter for Tuesday was estimated 118,000 head, with the weekly total at 224,000. That was well above last week due to the Monday holiday but 17,111 head lower vs. the same week in 2024.
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Oct 25 Live Cattle are at $231.450, up $1.275,
Dec 25 Live Cattle are at $232.925, up $1.750,
Feb 26 Live Cattle are at $234.125, up $1.775,
Sep 25 Feeder Cattle are at $354.550, up $2.850
Oct 25 Feeder Cattle are at $351.425, up $1.500
Nov 25 Feeder Cattle are at $349.125, up $0.250
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 Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
