Midweek Cattle Futures Show Varied Trends Amid Mixed Market Activity

On Wednesday, live cattle futures demonstrated mixed results. Front-month contracts rose between 7 and 32 cents, while other contracts declined by 42 to 82 cents. An additional six deliveries occurred against October contracts, this time registered in Burwell, NE. The Central Stockyards online Fed Cattle Exchange auction that morning reported no sales for the 2,720 head available, with bids ranging from $183 to $184. Meanwhile, feeder cattle futures saw decreases of 42 to 97 cents for the day. The CME Feeder Cattle Index fell by 44 cents, settling at $249.45 as of October 15.

In the afternoon, USDA wholesale Boxed Beef prices experienced an upward trend. Choice boxes increased by $2.30, reaching $319.13 per cwt, while Select boxes rose 28 cents to $292.37. As a result, the gap between Choice and Select widened to $26.76. The USDA also estimated that Wednesday’s federally inspected cattle slaughter stood at 125,000 head. This brought the week’s total to 370,000 head, which is 11,000 more than the previous week but a decrease of 6,348 head compared to the same week last year.

Oct 24 Live Cattle closed at $187.050, up $0.325.

Dec 24 Live Cattle closed at $186.600, up $0.075.

Feb 25 Live Cattle closed at $186.975, down $0.425.

Oct 24 Feeder Cattle closed at $246.100, down $0.425.

Nov 24 Feeder Cattle closed at $245.500, down $0.975.

Jan 25 Feeder Cattle closed at $243.350, down $0.875.

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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