Cattle Weaker on Tuesday

Live cattle futures are posting $1 to $1.20 losses so far on Tuesday. There were no deliveries issued against October futures on Monday, with the 10 from Friday retendered. Cash sales were reported in the north at $187-188 last week, even to $1 higher vs. last week. Southern sales hit $186-187 on Thursday, steady to up $1 on the week.

Feeder cattle futures are trading with $1.80 to $2.80 losses at midday. The CME Feeder Cattle Index was up 56 cents at $250.61 on October 10. Monday’s OKC feeder cattle auction saw sales of 6,825 head, which is above last week and slightly below the same week last year. Feeder steers and heifers were steady to $2 higher, with steer and heifer calves down $2 to $6.

USDA wholesale Boxed Beef prices were higher in the Tuesday morning report. Choice boxes were up $3.04 to $316.36/cwt, with Select $2.68 higher @ $291.78. The Chc/Select spread narrowed to $24.58. USDA estimated Monday’s federally inspected cattle slaughter at 120,000 head on Monday. That is 10,000 head above the previous week and up 3,124 head from the same Monday last year.

Oct 24 Live Cattle  are at $187.150, down $1.100,

Dec 24 Live Cattle  are at $186.800, down $1.125,

Feb 25 Live Cattle  are at $187.600, down $1.100,

Oct 24 Feeder Cattle  are at $247.325, down $1.800

Nov 24 Feeder Cattle  are at $246.975, down $2.600

Jan 25 Feeder Cattle  are at $244.875, down $2.725

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.