Live cattle futures were down $4.35 to $5.025 to close out the day. Cash trade has yet to get kicked off this week. Last week ranged from $230 to $232 in the north, with Southern sales near $235-237. Feeder cattle closed the Tuesday session with contracts down $7.30 to $7.60. The CME Feeder Cattle Index was back up $3.46 to $346.79 on November 3. The weekly OKC auction has 5,544 head for sale, with action noted $10-25 higher for heifers and feeder steers, with steer calves +$20-30.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday PM report, with the Chc/Sel spread tightening to $16.33. Choice boxes were up $1.67 to $377.58, while Select was $1.32 higher at $361.25. USDA federally inspected cattle slaughter for Tuesday at 118,000 head, taking the week’s total to 227,000. That is 3,000 head above last week but 18,977 head shy of the same week last year.
Dec 25 Live Cattle closed at $227.775, down $4.425,
Feb 26 Live Cattle closed at $225.375, down $5.025,
Apr 26 Live Cattle closed at $224.825, down $4.525,
Nov 25 Feeder Cattle closed at $334.975, down $7.600,
Jan 26 Feeder Cattle closed at $329.225, down $7.300,
Mar 26 Feeder Cattle closed at $324.925, down $7.600,
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.
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