Cattle Reverting Lower on Wednesday
Live cattle futures are trading with Wednesday losses of 15 to 85 cents in most contracts. This morning’s Fed Cattle Exchange online auction from Central Stockyards showed sales on one lot of the 1,322 head listed at 191 using the BidTheGrid™ method. Bids ranged from were $185-188 live. Outside of that, a few bids in the North have been reported at $190.
Feeder cattle are posting losses of $1.50 to $2.12 as they lead the way back lower. The CME Feeder Cattle Index was back up $2.25 from the day prior at $259.38 on December 2.
USDA wholesale Boxed Beef prices were lower in the Wednesday AM report. Choice boxes were down $2.07 to $310.83/cwt, with Select 37 cents lower @ $274.96. The Chc/Sel spread narrowed to $33.80. USDA estimated the Tuesday federally inspected cattle slaughter at 125,000, bringing the week to date total to 242,000 head. That was down 4,000 head from last week and 9,077 head below the same week last year.
Dec 24 Live Cattle are at $188.325, down $0.150,
Feb 25 Live Cattle are at $188.250, down $0.825,
Apr 25 Live Cattle are at $190.375, down $0.775,
Jan 25 Feeder Cattle are at $257.175, down $2.125
Mar 25 Feeder Cattle are at $255.650, down $1.625
Apr 25 Feeder Cattle are at $256.625, down $1.500
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.