Live cattle futures were down $2.35 to $2.65 across the front months to close out Wednesday. Preliminary open interest showed a rotation of ownership, up just 388 contracts. Cash trade has yet to get kicked off this week. A few Southern sales were being reported at $239 on Wednesday. Wednesday morning’s Fed Cattle Exchange online auction from Central Stockyards saw no sales on the 1,250 head offered, with bids at $230-235. Feeder cattle futures were down $3.30 to $5.30 to close out Wednesday. Preliminary open interest slipped 944 contracts. The CME Feeder Cattle Index was down 27 cents at $361.36 on September 16.
USDA will release their Cattle on Feed report on Friday, with August Placements seen down 9% and markets expected to be 12.8% below last year. September 1 on feed data is estimated down 0.9% vs. 2024.
USDA Wholesale Boxed Beef prices were falling again in the Wednesday PM report, with the Chc/Sel spread at $21.81. Choice boxes were down $4.44 at $388.18, while Select was $6.80 lower to $366.37. USDA federally inspected cattle slaughter for Wednesday was estimated at 120,000 head, with the weekly total at 351,000 head. That was 9,000 head above last week, but 20,957 head lower vs. the same week in 2024.
Oct 25 Live Cattle closed at $231.100, down $2.350,
Dec 25 Live Cattle closed at $232.675, down $2.475,
Feb 26 Live Cattle closed at $234.350, down $2.650,
Sep 25 Feeder Cattle closed at $355.025, down $3.300,
Oct 25 Feeder Cattle closed at $349.125, down $5.175,
Nov 25 Feeder Cattle closed at $344.125, down $5.275,
