Live cattle futures saw Wednesday losses of $1.25 to $2 at the close. Very light cash trade was reported on Tuesday in the North at $227, but not enough for a full market test. There were a few bids of 227-228 in the Wednesday morning Fed Cattle Exchange online auction, with $229-232 bids using the BidTheGrid™ method. Feeder cattle futures saw strength of $1.35 in the November contract, with other month falling $1.50 to $2.50 into the clsoe. The CME Feeder Cattle Index was down another $2.09 to $340.67 on November 11.
USDA Wholesale Boxed Beef prices were weaker in the Wednesday PM print, tightening the Chc/Sel spread to $14.51. Choice boxes were down $4.77 to $374.45, while Select was $0.14 lower at $359.94. USDA federally inspected cattle slaughter for Wednesday was at 122,000 head, with the weekly total at 351,000. That is 7,000 head above last week and 8,547 head below the same week last year.
Dec 25 Live Cattle closed at $225.275, down $1.925,
Feb 26 Live Cattle closed at $224.975, down $1.425,
Apr 26 Live Cattle closed at $224.500, down $1.325,
Nov 25 Feeder Cattle closed at $339.025, up $1.350,
Jan 26 Feeder Cattle closed at $327.475, down $1.675,
Mar 26 Feeder Cattle closed at $321.025, down $2.300,
