Cattle Post Continued Strength on Tuesday
Live cattle futures were $1.05 to $1.22 across the nearbys on the day. There were no deliveries again for October live cattle on Tuesday. Cash trade has yet to pick up this week across the country, with a few $230 in IA reported on Tuesday. Feeder cattle futures extended the gains on Tuesday with contracts up $3.10 to $3.80 at the close. The CME Feeder Cattle Index was up another $0.77 at $364.24 on October 6.
USDA Wholesale Boxed Beef prices continued higher in the Tuesday afternoon report, with the Chc/Sel spread widening to $17.09. Choice boxes were up $2.63at $365.97, while Select was 91 cents higher to $348.88. USDA federally inspected cattle slaughter for Tuesday was estimated at 116,000 head, with the weekly total at 217,000 head. That was 16,000 head below last week and 16,708 shy of the same week last year.
Oct 25 Live Cattle closed at $233.100, up $1.225,
Dec 25 Live Cattle closed at $237.725, up $1.050,
Feb 26 Live Cattle closed at $240.725, up $1.100,
Oct 25 Feeder Cattle closed at $365.500, up $3.100,
Nov 25 Feeder Cattle closed at $364.250, up $3.450,
Jan 26 Feeder Cattle closed at $359.000, up $3.800,
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.