Live cattle futures closed the Tuesday session on a mixed note up 42 cents in some deferreds to down $1.32 in the nearby October. Cash trade started a little early this week, falling $5-9 in NE to $230 on Monday. Tuesday bids are showing up at $228-230. Feeder cattle futures used some of the expanded limits as back months were down $9.55 to $12, and nearbys $1.40 to $5.05 lower. The CME Feeder Cattle Index fell $7.30 at $360.25 on October 27. The weekly OKC feeder cattle auction had 3,555 head sold, with price action down $30-40 for feeders and calves down $40-50. CME has expanded limits for both live cattle ($10.75) and feeder cattle ($13.75) for Wednesday.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel spread at $19.65. Choice boxes were up $1.77 to $379.65, while Select was $1.66 lower at $360.00. USDA federally inspected cattle slaughter for Tuesday at 119,000 head, with the week to date total at 224,000 head. That is 15,000 head above last week but 21,904 shy of the same week last year.
Oct 25 Live Cattle closed at $227.500, down $1.325,
Dec 25 Live Cattle closed at $226.575, down $0.600,
Feb 26 Live Cattle closed at $224.100, up $0.100,
Oct 25 Feeder Cattle closed at $344.100, down $1.400,
Nov 25 Feeder Cattle closed at $333.400, down $5.050,
Jan 26 Feeder Cattle closed at $324.875, down $9.550,
