Live cattle futures rounded out the Wednesday session with 20 to 35 cent gains. There were 7 of the previous 10 deliveries retendered against October live cattle for Amarillo on Wednesday. Cash trade has yet to be reported this week as the Wednesday Fed Cattle exchange saw no bids or sales on the 1,172 head offered. Feeder cattle futures were off the midday lows to close the session with 20 to 65 cent losses. The CME Feeder Cattle Index was up another $1.45 at $374.47 on October 14.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report, with the Chc/Sel spread at $17.32. Choice boxes were up $2.06 to $366.48, while Select was $1.39 lower at $349.16. USDA federally inspected cattle slaughter for Wednesday was estimated at 122,000 head, with the weekly total at 348,000. That is 13,000 head above last week but 21,193 shy of the same week last year.
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Oct 25 Live Cattle closed at $242.175, up $0.350,
Dec 25 Live Cattle closed at $246.775, up $0.275,
Feb 26 Live Cattle closed at $248.750, up $0.225,
Oct 25 Feeder Cattle closed at $379.725, down $0.450,
Nov 25 Feeder Cattle closed at $380.675, down $0.650,
Jan 26 Feeder Cattle closed at $377.850, down $0.200,
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.
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