Cattle Trade Posts Tuesday Losses

Live cattle futures ended the Tuesday session with contracts down $1.30 to $1.55. There were another 10 deliveries to the West Point, NE location on Tuesday, to take the total for the month to 20. 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 settled with $2.60 to $3.40 losses across most contracts. The CME Feeder Cattle Index was down 72 cents at $249.89 on October 14. 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 afternoon report. Choice boxes were up $3.51 to $316.83/cwt, with Select $2.99 higher @ $292.09. The Chc/Select spread narrowed to $24.74. USDA estimated Tuesday’s federally inspected cattle slaughter at 125,000 head, which takes the weekly total to 245,000 head. That is 11,000 head above the previous week and down 5,484 head from the same week last year.

Oct 24 Live Cattle  closed at $186.725, down $1.525,

Dec 24 Live Cattle  closed at $186.525, down $1.400,

Feb 25 Live Cattle  closed at $187.400, down $1.300,

Oct 24 Feeder Cattle  closed at $246.525, down $2.600,

Nov 24 Feeder Cattle  closed at $246.475, down $3.100,

Jan 25 Feeder Cattle  closed at $244.225, down $3.375,

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.