Cattle Leaking Lower at Midday
Live cattle futures are posting 62 to 87 cent losses across most contracts at midday. Cash activity has been quiet this week, with some light bids of $242 reported. This morning’s Fed Catte Exchange online auction showed sales on 398 of the 1,238 head offered at $242-$242.50. Feeder cattle futures are $2.20 to $2.25 lower across the front months. The CME Feeder Cattle Index was up $1.05 to $365.52 on September 1.
USDA Wholesale Boxed Beef prices were back higher in the Wednesday AM report, with the Chc/Sel spread at $28.29. Choice boxes were up $2.63 at $416.05, while Select was $1.59 higher to $387.76. USDA estimated cattle slaughter for Tuesday at 120,000 head. That was up 2,000 head from last week and 6,291 head lower vs. the same Tuesday in 2024.
Oct 25 Live Cattle are at $238.650, down $0.875,
Dec 25 Live Cattle are at $240.475, down $0.675,
Feb 26 Live Cattle are at $241.850, down $0.625,
Sep 25 Feeder Cattle are at $362.025, down $2.225
Oct 25 Feeder Cattle are at $361.450, down $2.250
Nov 25 Feeder Cattle are at $361.275, down $2.200
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.