Live cattle futures fell off weaker late in the day, but still closed with 75 cent to $1.32 gains. There were 20 deliveries tendered on Wednesday. Preliminary open interest was down 1,808 contracts on Wednesday. Cash trade has been quiet so far this week, with a few bids of $245 in the north reported and light sales of $240-242 in KS. Wednesday morning’s Fed Cattle Exchange online auction showed a total of 940 head listed with no bids reported.
Feeder cattle futures were well off the intraday highs at Wednesday’s close, still up 35 cents to $2.22 at the final bell. Preliminary open interest suggested a rotation of ownership, up 83 contracts. The CME Feeder Cattle Index was up another $1.51 to $360.68 on August 26.
USDA Wholesale Boxed Beef prices were weaker in the Wednesday afternoon report, with the Chc/Sel spread at $24.13. Choice boxes were down $1.33 at $411.84, while Select was $3.05 lower to $387.71. USDA estimated cattle slaughter for Wednesday was 119,000 head, with the weekly total at 344,000 head. That was up 10,000 head from last week but 14,906 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $243.250, up $0.750,
Oct 25 Live Cattle closed at $239.525, up $1.325,
Dec 25 Live Cattle closed at $240.900, up $0.975,
Aug 25 Feeder Cattle closed at $365.450, up $2.225,
Sep 25 Feeder Cattle closed at $365.400, up $0.350,
Oct 25 Feeder Cattle closed at $364.200, up $0.425,
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.
