Live cattle futures saw weakness into the Tuesday close, down 50 cents to $1.25. Cash trade has yet to be reported this week, with last week at $225-227 across the country, with a few at $228 in the South. Some late Northern sales were $218-222. Feeder cattle futures were mixed on Tuesday, with contracts mostly steady to a quarter lower and November up 92 cents. The CME Feeder Cattle Index was back down $2.43 to $339.46 on November 17. The Monday OKC feeder cattle auction sold 6,526 head, with sales listed as steady.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, widening the Chc/Sel spread to $17.00. Choice boxes were back up $1.54 to $371.95, while Select was $1.35 lower at $354.95. USDA federally inspected cattle slaughter for Tuesday was estimated at 121,000 head, with the weekly total at 237,000 head. That 8,000 head above last week but 10,273 head below the same week last year.
Dec 25 Live Cattle closed at $220.025, down $1.250,
Feb 26 Live Cattle closed at $220.850, down $0.925,
Apr 26 Live Cattle closed at $221.325, down $0.500,
Nov 25 Feeder Cattle closed at $340.775, up $0.925,
Jan 26 Feeder Cattle closed at $326.050, down $0.225,
Mar 26 Feeder Cattle closed at $318.400, down $0.150,
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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