Live cattle futures faced pressure on the Wednesday session with contracts $1.50 to $2.20 lower at the close. Some long liquidation was noted with preliminary open interest dropping 1,829 contracts. Cash trade has been quiet so far this week, with a few sparse $365 dressed sales in the North. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 2,144 head offered, with bids at $235. Feeder cattle futures were up 52 cents in the September contract, which expires on Thursday, with other contracts down $2.50 to $4.10. The CME Feeder Cattle Index was back up 21 cents at $361.31 on September 23.
USDA Wholesale Boxed Beef prices were lower on Wednesday afternoon, with the Chc/Sel spread at $20.97 Choice boxes were down $3.41 at $377.39, while Select was $3.48 lower to $356.42. USDA federally inspected cattle slaughter for Wednesday was estimated at 120,000 head, with the week to date total at 351,000 head. That was 3,000 head above last week but 15,494 head below the same week in 2024.
Oct 25 Live Cattle closed at $234.050, down $1.550,
Dec 25 Live Cattle closed at $236.825, down $1.925,
Feb 26 Live Cattle closed at $238.975, down $2.150,
Sep 25 Feeder Cattle closed at $365.375, up $0.525,
Oct 25 Feeder Cattle closed at $359.625, down $2.500,
Nov 25 Feeder Cattle closed at $357.800, down $2.950,
