Cattle futures considered a Turnaround Tuesday early in the day session, but are back down by another 57 to 85 cents for midday. That follows the 57c to $1.17 losses out of the weekend in a broad ag sell session. Midday feeder cattle futures are also in the red with 22 to 25 cent losses in the back months and a $1.12 loss for October. The week’s cash trade was mostly unestablished on Monday. USDA reported cash cattle trade on Friday near $182-$183 in the South. The Northern cash market was mostly steady near $185 for the week. The CME Feeder Cattle Index was 64 cents weaker to $252.75 on 9/15. The OKC feeder auction featured 7,500 head, with prices mostly $2-5 per hundred higher.
USDA’s AM Wholesale Boxed Beef Report showed Choice was $1.50 weaker to $303.82 and Select was 15c higher to $283.56 cwt. The ribs were shown at $508.42 and $435.86 cwt. respectively. USDA estimated 121k head for Monday’s FI cattle slaughter. That compares to 125k head both last week and the same week last year.
Oct 23 Cattle are at $185.875, down $0.450,
Dec 23 Cattle are at $190.600, down $0.400,
Feb 24 Cattle are at $195.125, down $0.625,
Cash Cattle Index was $182.480, from $179.00 last week
Sep 23 Feeder Cattle are at $253.400, down $0.850
Oct 23 Feeder Cattle are at $259.900, down $1.050On 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.