Cattle Fading Back on Wednesday as Traders Correct Ahead of Month End

Live cattle futures are showing $1.82 to $2.65 losses across the front months at midday. Cash trade has been quiet early this week as feedlots were compiling showlists. The Wednesday morning Fed Cattle Exchange online auction showed no bids on the 2,636 head offered, with most reserve prices (asks) at $232. Outside of that, a few northern sales were tallied at $365 by USDA, but not enough for a market test. Feeder cattle futures are falling 67 cents to $3.22 at midday. The CME Feeder Cattle Index was up $2.12 on October 23 to $350.67.

Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel at $12.57. Choice boxes were down $2.51 to $369.71, with Select up $1.71 to $357.15. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, taking the week’s total to 216,000 head. That was down 1,000 head from the week prior and 7,780 head above the same week last year. 

Oct 26 Live Cattle  are at $228.175, down $1.825,

Dec 26 Live Cattle  are at $228.200, down $2.650,

Feb 27 Live Cattle  are at $231.325, down $2.250,

Oct 26 Feeder Cattle  are at $352.125, down $0.675

Nov 26 Feeder Cattle  are at $348.025, down $2.000

Jan 27 Feeder Cattle  are at $343.875, down $3.225

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.