Live cattle futures are posting $1.85 to $2.60 higher trade so far on the Wednesday session. Early bids of $228 were reported this week though trade has been inactive. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,054 head offered and a few bids of $228. Feeder cattle futures are continuing to claw back losses from Monday with midday gains of $1.85 to $3.90 on Wednesday. The CME Feeder Cattle Index was back up $1.10 on July 27 to $348.47.
Wholesale Boxed Beef prices were mixed in the Wednesday morning report. Choice boxes were down $1.35 at $364.51, with Select $1.75 higher to $345.27. USDA’s Federally inspected cattle slaughter for Tuesday at 106,000 head, with the weekly total at 198,000 head. That is down 7,000 head from the previous week and 24,229 head below the same week last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.Aug 26 Live Cattle are at $229.350, up $1.875,
Oct 26 Live Cattle are at $224.650, up $2.475,
Dec 26 Live Cattle are at $223.900, up $2.600,
Aug 26 Feeder Cattle are at $344.925, up $1.850
Sep 26 Feeder Cattle are at $339.850, up $2.625
Oct 26 Feeder Cattle are at $330.725, up $3.900
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.- USDA Cattle Data Shows the U.S. Herd Has Stopped Shrinking
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