Cattle Fading Lower on Wednesday
Live cattle are falling again on Wednesday, as contracts are down 30 to 97 cents. Cash action has been light with some $188 sales in Kansas and Texas this week, with more Wednesday bids creeping in at $188. Northern trade is still not reported. The Central Stockyards Fed Cattle Exchange saw sales of $188 live in Texas, with other sales of $191 in TX and $193 in KS and IA both using their BidTheGrid™ method. Feeder cattle are losing $1.30 to $2.30 again on the midweek session. The CME Feeder Cattle Index was down 96 cents on July 8 at $257.33.
USDA wholesale Boxed Beef prices were mixed in the Wednesday morning report. Choice boxes were down another 41 cents to $325.25/cwt, with Select $1.24 higher at $305.55. The Chc/Select spread narrowed to $19.70. USDA estimated Tuesday’s FI slaughter at 120,000 head, with the WTD total at 232,000 head. That is down 1,000 head from the previous week and 18,486 head below the same week last year.
Aug 24 Live Cattle are at $182.050, down $0.300,
Oct 24 Live Cattle are at $182.850, down $0.450,
Dec 24 Live Cattle are at $184.400, down $0.975,
Aug 24 Feeder Cattle are at $254.425, down $1.300
Sep 24 Feeder Cattle are at $254.800, down $2.025
Oct 24 Feeder Cattle are at $254.925, down $2.275
On the date of publication, Alan Brugler 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.