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Austin Schroeder

Cattle Look to Thursday Trade After Midweek Pullback

Live cattle futures saw contracts steady to 75 cents in the red across most months on Wednesday. Open interest showed a rotation of ownership, up just 72 contracts. The Wednesday morning Fed Cattle Exchange showed no sales on the 2,552 head listed, with a few bids of $232. Outside of that, there has been some light cash trade at $230 in the North, down $2-5 from last week. Dressed trade was reported at $360. Feeder cattle futures posted losses of $1 to $2.05 across most front months on Wednesday. The CME Feeder Cattle Index was back up 62 cents at $364.71 on September 30. 

USDA Wholesale Boxed Beef prices were lower on Wednesday afternoon, with the Chc/Sel spread narrowing to $21.58. Choice boxes were down $2.56 at $368.47, while Select was 36 cents lower to $346.89. USDA federally inspected cattle slaughter for Wednesday was estimated at 115,000 head, with the weekly total at 348,000 head. That was 3,000 head below last week but 21,142 head below the same week in 2024.

 

Oct 25 Live Cattle  closed at $231.100, down $0.750,

Dec 25 Live Cattle  closed at $234.500, down $0.275,

Feb 26 Live Cattle  closed at $237.175, down $0.000,

Oct 25 Feeder Cattle  closed at $358.975, down $2.050,

Nov 25 Feeder Cattle  closed at $357.600, down $1.750,

Jan 26 Feeder Cattle  closed at $352.025, down $1.025,

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.
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