Live cattle futures are down $2.30 to $2.65 across most contracts at midday. Very light cash trade was reported on Tuesday in the North at $227, but not enough for a full market test. There were a few bids of 227-228 in the Wednesday morning Fed Cattle Exchange online auction, with $229-232 bids using the BidTheGrid™ method. Feeder cattle futures are down $3.45 to $4.30 across the front months on Wednesday with nearby November down a tick. The CME Feeder Cattle Index was back down $1.61 to $342.76 on November 10.
USDA Wholesale Boxed Beef prices were mixed Wednesday AM print, tightening the Chc/Sel spread to $13.89. Choice boxes were down $3.24 to $375.98, while Select was $2.01 higher at $362.09. USDA federally inspected cattle slaughter for Tuesday was at 116,000 head, with the weekly total at 229,000. That is 2,000 head above last week and 5,686 head below the same week last year.
Dec 25 Live Cattle are at $224.550, down $2.650,
Feb 26 Live Cattle are at $224.050, down $2.350,
Apr 26 Live Cattle are at $223.500, down $2.325,
Nov 25 Feeder Cattle are at $337.650, down $0.025
Jan 26 Feeder Cattle are at $325.675, down $3.475
Mar 26 Feeder Cattle are at $319.025, down $4.300
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.