Live cattle futures closed the Thursday session with contracts $5.47 to $6.27 lower. Light cash trade has been reported this week in the North at $225-227, with $228 reported in the South. There were sales on 554 of the 1,428 head offered at $228 in the Thursday morning Fed Cattle Exchange online auction. Feeder cattle futures fell back to weakness on Thursday, with November down $2.025 and other contracts down $9.025 to the $9.25 limit. That will leave us with expanded limits of $10.75 for live cattle and $13.75 for feeders on Friday. The CME Feeder Cattle Index was down another $1.75 to $342.42 on November 12.
Export sales data for the week of September 25 was released this morning, with 15,221 MT of beef sold in that week.
USDA Wholesale Boxed Beef prices were weaker in the Thursday PM print, widening the Chc/Sel spread to $18.54. Choice boxes were down 88 cents to $373.57, while Select was $4.91 lower at $355.03. USDA federally inspected cattle slaughter for Thursday was at 120,000 head, with the weekly total at 471,000. That is 15,000 head above last week and 13,455 head below the same week last year.
Dec 25 Live Cattle closed at $219.000, down $6.275,
Feb 26 Live Cattle closed at $218.950, down $6.025,
Apr 26 Live Cattle closed at $218.600, down $5.900,
Nov 25 Feeder Cattle closed at $337.000, down $2.025,
Jan 26 Feeder Cattle closed at $318.450, down $9.025,
Mar 26 Feeder Cattle closed at $311.775, 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.
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