Cattle Traders Look to Wednesday Following Mixed Tuesday Trade

Live cattle futures closed Tuesday with contracts down 35 to 77 cents, as nearby October was a tick higher. Cash trade has been quiet early this week as feedlots were compiling showlists. Last week awas $228 in the North, with a few southern sales at $230. Feeder cattle futures saw gains of 7 cents to $2.90 on Tuesday, with a few deferreds lower. The CME Feeder Cattle Index was up $2.12 on October 23 to $350.67. The Monday OKC feeder cattle auction showed sales on 5,506 head, with action noted $5-15 higher for steers and lighter weight steers up $20-30. 

Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel at $13.37. Choice boxes were up $2.78 to $372.22, with Select up $1.29 to $358.85. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, taking the week’s total to 216,000 head. That was down 1,000 head from the week prior and 7,780 head above the same week last year. 

Oct 26 Live Cattle  closed at $230.000, up $0.025,

Dec 26 Live Cattle  closed at $230.850, down $0.350,

Feb 27 Live Cattle  closed at $233.575, down $0.775,

Oct 26 Feeder Cattle  closed at $352.800, up $2.900,

Nov 26 Feeder Cattle  closed at $350.025, up $1.475,

Jan 27 Feeder Cattle  closed at $347.100, up $1.100,

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.