Cattle Look to Round Out Week
Live cattle futures posted Wednesday gains of 87 cents to $1.10. Cash trade kicked off with $188-190 sales reported across the country. Wednesday morning’s Fed Cattle Exchange online auction from Central Stockyards showed half of the 1,300 head listed sold in a range of $189-189.50.
Feeder cattle were up 60 to 90 cents across most contracts, as the cash strength continues to hold the market up. The CME Feeder Cattle Index was up 23 cents at $255.94 on November 26.
USDA wholesale Boxed Beef prices were back lower in the Wednesday afternoon report. Choice boxes were down 31 cents to $311.26 /cwt, with Select $1.19 lower @ $274.30. The Chc/Sel spread widened to $36.96. USDA estimated the Wednesday federally inspected cattle slaughter at 124,000 head, with the weekly total at 370,000 head. That is 1,000 head below the previous week and down 6,872 head from the same week last year.
Dec 24 Live Cattle closed at $188.000, up $1.100,
Feb 25 Live Cattle closed at $188.600, up $0.900,
Apr 25 Live Cattle closed at $190.425, up $0.875,
Jan 25 Feeder Cattle closed at $258.775, up $0.675,
Mar 25 Feeder Cattle closed at $257.300, up $0.825,
Apr 25 Feeder Cattle closed at $258.400, up $0.900,
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.