Cattle Close Mostly Lower on Wednesday

Live cattle futures were mixed on the midweek session with front months up 7 to 32 cents and other contracts down 42 to 82 cents. There were another 6 deliveries against October, this time to Burwell, NE on Wednesday. The Wednesday morning Central Stockyards online Fed Cattle Exchange auction showed no sales on the 2,720 head listed for sale, with bids running $183-184. Feeder cattle futures were 42 to 97 cents lower across the board on Wednesday. The CME Feeder Cattle Index was down 44 cents at $249.45 on October 15. 

USDA wholesale Boxed Beef prices were higher in the Wednesday afternoon report. Choice boxes were up $2.30 to $319.13/cwt, with Select 28 cents higher @ $292.37. The Chc/Select spread widened to $26.76. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, which takes the weekly total to 370,000 head. That is 11,000 head above the previous week but down 6,348 head from the same week last year.

Oct 24 Live Cattle  closed at $187.050, up $0.325,

Dec 24 Live Cattle  closed at $186.600, up $0.075,

Feb 25 Live Cattle  closed at $186.975, down $0.425,

Oct 24 Feeder Cattle  closed at $246.100, down $0.425,

Nov 24 Feeder Cattle  closed at $245.500, down $0.975,

Jan 25 Feeder Cattle  closed at $243.350, down $0.875,

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.