Cattle Close Mixed on Tuesday
Live cattle ended the Tuesday session with front months down 87 to 60 cents and back months up 27 to 52 cents. Cash trade has yet to kick off this week. It was slow last week, with the South kicking things off at $181, down $2 on the week. Northern sales were light with $180-183 reported last week by the USDA.
Feeder cattle futures were mostly higher on Tuesday, with contracts up 15 to 75 cents and March ‘25 the lone contracts lower, down a tick. The CME Feeder Cattle Index was down 93 cents at $242.99 on September 9. The weekly OKC Feeder Cattle Auction on Monday saw sales on 10,154 head, well above the previous sale down from 10,556 a year ago. Feeder steers were down $1-5, with steer and heifer calves down $5-10.
USDA wholesale Boxed Beef prices were lower in the Tuesday PM report. Choice boxes were back down 29 cents @ $308.23, with Select $1.47 lower at $297.01. The Chc/Select spread widened to $11.22. USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, taking the weekly total to 238,000 head. That is well above the previous week due to the holiday but 11,225 head below the same week last year.
Oct 24 Live Cattle closed at $176.325, down $0.600,
Dec 24 Live Cattle closed at $176.425, down $0.375,
Feb 25 Live Cattle closed at $177.525, down $0.225,
Sep 24 Feeder Cattle closed at $238.475, up $0.750,
Oct 24 Feeder Cattle closed at $235.400, up $0.675,
Nov 24 Feeder Cattle closed at $232.275, up $0.450,
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.