Cattle Mixed at Midday
Live cattle futures are mixed, with front months up 32 to 75 cent and other contracts down 15 cents. The Wednesday Fed Cattle Exchange online auction from Central Stockyards showed $235 sales in TX and $238-240 in KS, with BidTheGrid™ sales of $237-240. Feeder cattle futures are 90 cents to $1.50 lower on Wednesday, pulling off the early session lows. The CME Feeder Cattle Index was up $3.58 on June 9 with an average price of $314.04.
USDA’s National Wholesale Boxed Beef prices were higher on Wednesday morning, widening the Chc/Sel spread to $13.17. Choice boxes were back up $1.88 at $373.64, while Select was quoted 63 cents higher at $360.47/cwt. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 119,000 head, with the weekly total 231,000 head. That is 5,000 head below the week prior on a revised Monday total and 14,562 head below the same week last year.
Jun 25 Live Cattle are at $227.800, up $0.725,
Aug 25 Live Cattle are at $218.525, up $0.325,
Oct 25 Live Cattle are at $215.500, down $0.150,
Aug 25 Feeder Cattle are at $311.650, down $1.500
Sep 25 Feeder Cattle are at $311.825, down $0.925
Oct 25 Feeder Cattle are at $309.600, down $0.950
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.