Cattle Slipping Lower Ahead of the Long Weekend

Live cattle futures are trading with contracts 40 to 50 cents lower. Cash trade has picked up in the north this week with light trade at $345-350 dressed, steady on the week, with early live sales at $218. Some bids across the country were picked up at $219-220 on Thursday. OI was down 932 contracts. The Friday Fed Cattle Exchange online auction showed no sales on the 1,540 head offered, with bids at $219-221. Feeder cattle futures are trading with contracts down 12 to 45 cents as, November is up 12 cents. The CME Feeder Cattle Index was back down 91 cents on September 2 to $328.27. The market will be closed on Monday for Labor Day.

Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel widening to $20.80. Choice boxes were down $1.87 at $375.03, with Select $3.51 higher to $354.23. USDA estimated the Thursday Federally inspected cattle slaughter at 105,000 head, with the weekly total at 412,000 head. That is down 3,000 head from the previous week.

Oct 26 Live Cattle  are at $213.825, down $0.475,

Dec 26 Live Cattle  are at $215.650, down $0.475,

Feb 27 Live Cattle  are at $217.275, down $0.450,

Sep 26 Feeder Cattle  are at $325.400, down $0.450

Oct 26 Feeder Cattle  are at $320.975, down $0.125

Nov 26 Feeder Cattle  are at $315.425, up $0.125

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.