Live cattle futures are showing losses of 17 to 50 cents so far on Wednesday. Cash trade has yet to get kicked off this week, with a few early sales at $229. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,708 head listed and bids of $227 live and $347.50-354 dressed. Feeder cattle futures are trading with 35 cent to $1.025 losses at midday.
USDA Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel spread narrowing to $8.08. Choice boxes were down $1.96 to $356.92, while Select was 26 cents lower at $348.84. USDA federally inspected cattle slaughter was estimated at 121,000 head on Tuesday, with the weekly total at 231,000 head. That was 7,000 head below last week and 8,533 head shy of the same week last year.
Dec 25 Live Cattle are at $230.975, down $0.175,
Feb 26 Live Cattle are at $230.225, down $0.475,
Apr 26 Live Cattle are at $229.900, down $0.375,
Jan 26 Feeder Cattle are at $342.300, down $1.025
Mar 26 Feeder Cattle are at $337.225, down $0.375
Apr 26 Feeder Cattle are at $335.925, down $0.375
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.
