Cattle Slips Lower on Back on Tuesday

Live cattle futures were down 22 cents to $1 on the Tuesday session. Cash trade was quiet on Monday, as trade was $222-223 live and $345 dressed action in the North last week, with some southern action near $226. Feeder cattle futures posted mostly lower trade, as contracts were down 20 cents to $1.05 with January a dime higher. The CME Feeder Cattle Index was another $2.85 higher on October 12 to $341.47. 

Tuesday’s Crop Progress report showed the US pasture rating at 22% gd/ex, down 1% on the week. The Brugler500 index was steady at 257.

Wholesale Boxed Beef prices were lower in the Tuesday afternoon, with the Chc/Sel at $21.48. Choice boxes were down 41 cents to $375.15, with Select 46 cents to $353.67. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, with the week to date total at 216,000 head. That was up 4,000 from the week prior but 10,636 head below the same week last year. 

Oct 26 Live Cattle  closed at $224.625, down $0.125,

Dec 26 Live Cattle  closed at $226.375, down $0.225,

Feb 27 Live Cattle  closed at $228.575, down $1.000,

Oct 26 Feeder Cattle  closed at $343.075, down $0.400,

Nov 26 Feeder Cattle  closed at $341.025, down $0.075,

Jan 27 Feeder Cattle  closed at $335.850, up $0.100,

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.