Front month live cattle futures are working near their highs for the day on triple digit gains of as much as $1.62. Feeders are also mostly triple digits higher as well, gaining $0.90 to $1.12 so far. No cash business has been reported for the week through Tuesday. Last week’s cash sales were mostly $178-179 in the South and mostly $182 in the North. The 9/04 CME Feeder Cattle Index was $247.81 after a 93 cent drop.
Wednesday morning Wholesale Boxed Beef prices were mixed again, widening the spread to $26.24. Choice boxes were 14 cents higher while Select was 16 cents weaker. USDA’s estimate for the week’s FI cattle slaughter was 131k head with 3k for Monday. That matches the same week last year reflecting the holiday.
Oct 23 Cattle are at $181.675, up $1.725,
Dec 23 Cattle are at $185.750, up $1.600,
Feb 24 Cattle are at $189.800, up $1.325,
Cash Cattle Index was $179.000, from $179.00 last week
Sep 23 Feeder Cattle are at $252.650, up $1.275
Oct 23 Feeder Cattle are at $255.700, up $1.400
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.
