The cattle markets will have a normal Friday open, with the close set for 12:05 CST. Live cattle futures were $4 to $5.70 higher on the Wednesday session. Preliminary open interest suggested a rotation of ownership, up just 756 contracts. There have been some light cash trade picked up in the north this week at $208-210, with dressed trade at $330. Wednesday’s Fed cattle online exchange saw $216 BidTheGrid™ sales on 95 the 2,052 head offered, with other bids of $211 to $212. Feeder cattle futures posted Wednesday gains of $8 to $8.30 in rally back mode ahead of the holiday. OI was down 323 contracts on Wednesday. The CME Feeder Cattle Index was down $2.09 to $331.97 on November 25.
USDA reported Wholesale Boxed Beef prices lower in the Wednesday PM report, with the Chc/Sel spread narrowing to $12.77. Choice boxes were down $1.81 to $368.28, while Select was 42 cents lower at $355.51. USDA federally inspected cattle slaughter for Wednesday was estimated at 124,000 head, with the week to date total at 369,000. That 12,000 head above last week but 2,509 head below the same week last year.
Dec 25 Live Cattle closed at $211.025, up $4.025,
Feb 26 Live Cattle closed at $212.925, up $5.600,
Apr 26 Live Cattle closed at $214.250, up $5.675,
Jan 26 Feeder Cattle closed at $315.125, up $8.050,
Mar 26 Feeder Cattle closed at $309.050, up $8.175,
Apr 26 Feeder Cattle closed at $307.700, up $8.300,
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.
More news from Barchart
