Live cattle futures were down 5 to 42 cents across the board on Wednesday. The Central Stockyards online Fed Cattle Exchange auction showed no sale on the 2,380 head for sale, with bids of $183-186.50. Feeder cattle futures were down 85 cents to $2.60. The CME Feeder Cattle Index was back up 6 cents at $250.71 on October 22.
Ahead of the Friday afternoon Cattle on Feed report, analysts are expecting to see September placements tallied at 96% of last year’s total, with marketings at 102% of the 2023 total. October 1 on feed inventory is expected to be down 0.3%
USDA wholesale Boxed Beef prices were mixed in the Wednesday afternoon report. Choice boxes were down $2.55 to $321.41/cwt, with Select 97 cents higher @ $295.77. The Chc/Select spread narrowed to $25.64. USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, taking the week to date total to 367,000 head. That is 3,000 head below the previous week and down 9,278 head from the same week last year.
Oct 24 Live Cattle closed at $187.625, down $0.425,
Dec 24 Live Cattle closed at $187.875, down $0.250,
Feb 25 Live Cattle closed at $188.625, down $0.200,
Oct 24 Feeder Cattle closed at $248.575, down $0.850,
Nov 24 Feeder Cattle closed at $247.225, down $1.700,
Jan 25 Feeder Cattle closed at $243.825, down $2.225,
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