Cattle Rallying on Wednesday

Live cattle futures are posting gains of $2.17 to $2.60 across the front months on Wednesday. Cash trade saw some light $348-350 action in the North so far this week as reported by USDA. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,586 head offered and $224/345 bids. Feeder cattle futures are rallying $3.70 to $4.70 in most contracts so far on the Wednesday session. The CME Feeder Cattle Index was 2 cents lower on September 28 to $338.77. 

Wholesale Boxed Beef prices were mixed in the Wednesday AM report, with the Chc/Sel at $20.60. Choice boxes were up a penny at $382.67, with Select $2.41 lower to $362.07. USDA estimated Federally inspected cattle slaughter for Tuesday at 108,000 head, bouncing from lower kills in the last week and taking this week’s total to 203,000 head. That was down 2,000 from last week and 29,845 head below the same week last year. 

Oct 26 Live Cattle  are at $219.400, up $2.175,

Dec 26 Live Cattle  are at $223.300, up $2.500,

Feb 27 Live Cattle  are at $225.500, up $2.575,

Oct 26 Feeder Cattle  are at $337.350, up $3.700

Nov 26 Feeder Cattle  are at $335.050, up $4.150

Jan 27 Feeder Cattle  are at $328.075, up $4.675

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.