Live cattle futures are down the $7.25 limit so far on Wednesday. The Central Stockyards Fed Cattle online auction showed no sales on the 1,228 head offered, with bids at $228-230.50. Outside of that, Northern sales were reported at 230-230.50, with $232 Southern sales. Feeder cattle are $9.25 lower across the board, as futures face limit losses. The CME Feeder Cattle Index was back up $3.46 to $346.79 on November 3.
Secretary Rollins met with the Mexican President on Tuesday, with the border expected to remain closed. She did comment that President Trump is still very focused on reopening the border. That may be sparking some more liquidation.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday AM report, with the Chc/Sel spread widening to $17.78. Choice boxes were up 31 cents to $377.89, while Select was $1.14 lower at $360.11. 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 are at $220.525, down $7.250,
Feb 26 Live Cattle are at $218.125, down $7.250,
Apr 26 Live Cattle are at $217.575, down $7.250,
Nov 25 Feeder Cattle are at $325.725, down $9.250
Jan 26 Feeder Cattle are at $319.975, down $9.250
Mar 26 Feeder Cattle are at $315.675, down $9.250
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.
