Live cattle futures are posting gains of $2.17 to $2.60 across the front months on Wednesday. Cash trade saw some light $348-350 action in the North so far this week as reported by USDA. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,586 head offered and $224/345 bids. Feeder cattle futures are rallying $3.70 to $4.70 in most contracts so far on the Wednesday session. The CME Feeder Cattle Index was 2 cents lower on September 28 to $338.77.
Wholesale Boxed Beef prices were mixed in the Wednesday AM report, with the Chc/Sel at $20.60. Choice boxes were up a penny at $382.67, with Select $2.41 lower to $362.07. USDA estimated Federally inspected cattle slaughter for Tuesday at 108,000 head, bouncing from lower kills in the last week and taking this week’s total to 203,000 head. That was down 2,000 from last week and 29,845 head below the same week last year.
Oct 26 Live Cattle are at $219.400, up $2.175,
Dec 26 Live Cattle are at $223.300, up $2.500,
Feb 27 Live Cattle are at $225.500, up $2.575,
Oct 26 Feeder Cattle are at $337.350, up $3.700
Nov 26 Feeder Cattle are at $335.050, up $4.150
Jan 27 Feeder Cattle are at $328.075, up $4.675
