Cattle Continue Pullback to Wednesday
Live cattle futures posted Wednesday losses $1 to $1.20 in the front months. Cash trade this week has been slow, with very light trade picked up in KS at $220 today. The Wednesday morning Fed Cattle Exchange online auction showed no sales on 1,546 head offered, with bids ranging from $215-220. Feeder cattle futures fell lower on Wednesday, with contracts $2.525 to $2.82 lower. The CME Feeder Cattle Index was down another 25 cents on May 27 with an average price of $295.84.
USDA’s National Wholesale Boxed Beef report was higher on Wednesday afternoon, with the Chc/Sel spread at $13.68. Choice boxes were up $3.57 at $365.42, while Select was quoted 91 cents higher at $351.74/cwt. USDA’s Federally inspected cattle slaughter for Wednesday was 119,000 head, with the weekly total at 235,000 head. That is down 15,266 head from the same holiday week last year.
Jun 25 Live Cattle closed at $213.925, down $1.200,
Aug 25 Live Cattle closed at $208.175, down $1.125,
Oct 25 Live Cattle closed at $206.075, down $1.000,
Aug 25 Feeder Cattle closed at $295.625, down $2.525,
Sep 25 Feeder Cattle closed at $294.475, down $2.775,
Oct 25 Feeder Cattle closed at $292.525, down $2.825,
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.