Cattle Correct Lower on Wednesday Ahead of Month End

Live cattle futures posted losses of $2.62 to $3.52 across the board at the close. Cash trade has been quiet this week with a few sales reported by USDA at $224 live in the north and $350-365 dressed. The Wednesday morning Fed Cattle Exchange online auction showed no bids on the 2,636 head offered, with most reserve prices (asks) at $232. Feeder cattle futures fell lower, down $1.37 to $6.95 across the board, with the deferreds leading the charge. The CME Feeder Cattle Index was up 33 cents on October 27 to $351.00. 

Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel at $13.75. Choice boxes were down $3.22 to $369.00, with Select $3.60 lower to $355.25. USDA estimated Federally inspected cattle slaughter for Wednesday at 109,000 head, taking the week’s total to 325,000 head. That was down 2,000 head from the week prior and 17,080 head above the same week last year. 

Oct 26 Live Cattle  closed at $227.375, down $2.625,

Dec 26 Live Cattle  closed at $227.325, down $3.525,

Feb 27 Live Cattle  closed at $230.500, down $3.075,

Oct 26 Feeder Cattle  closed at $351.425, down $1.375,

Nov 26 Feeder Cattle  closed at $346.750, down $3.275,

Jan 27 Feeder Cattle  closed at $342.100, down $5.000,

On the date of publication, Austin Schroeder did not directly have a position 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.