Cattle Closes Mixed on Thursday
Live cattle futures were mixed again on the Thursday session contracts anywhere from 50 cents lower to 22 cents higher. The 6 deliveries against October from Wednesday were retendered on Thursday. The Thursday morning Central Stockyards online Fed Cattle Exchange auction showed no sales on the 2,720 head listed for sale, with bids running $183-185. Outside of that, there were Southern sales of $188 and Northern sales of $296 in the beef. Feeder cattle futures were up 25 to 62 cents in the nearbys and down 22 to 60 cents the deferreds. The CME Feeder Cattle Index was back up 78 cents at $250.25 on October 16.
USDA wholesale Boxed Beef prices were higher again in the Thursday afternoon report. Choice boxes were up 13 cents to $319.26/cwt, with Select $1.15 higher @ $293.52. The Chc/Select spread narrowed to $25.74. USDA estimated Thursday’s federally inspected cattle slaughter at 118,000 head, which takes the weekly total to 488,000 head. That is 14,000 head above the previous week but down 13,670 head from the same week last year.
Oct 24 Live Cattle closed at $186.625, down $0.425,
Dec 24 Live Cattle closed at $186.175, down $0.425,
Feb 25 Live Cattle closed at $186.975, down $0.000,
Oct 24 Feeder Cattle closed at $246.725, up $0.625,
Nov 24 Feeder Cattle closed at $245.750, up $0.250,
Jan 25 Feeder Cattle closed at $243.125, down $0.225,
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.