Live Cattle Futures Decline Amid Mixed Cash Trade

Feeder Cattle Futures Experience Substantial Losses

On Wednesday, live cattle futures slid by 90 cents to $1.57. Active cash trading occurred, with prices ranging from $189 to $190 per hundredweight. Meanwhile, feeder cattle futures saw a sharper decline, dropping between $1.10 and $2.65. However, the October contract managed a slight increase of 92 cents as it approached Thursday’s expiration. The CME Feeder Cattle Index reported an uptick of 57 cents, totaling $250.06 on October 29.

USDA Reports Lower Boxed Beef Prices

The USDA’s Wednesday afternoon report indicated a drop in wholesale boxed beef prices. Choice beef boxes decreased by $1.17, settling at $319.44 per hundredweight, while Select boxes fell by 64 cents to $289.32. Consequently, the spread between Choice and Select narrowed to $30.12. Additionally, the USDA estimated that Wednesday’s federally inspected cattle slaughter reached 124,000 head, resulting in a weekly total of 369,000. This marks an increase of 2,000 head from the previous week, though it is down 4,972 head compared to the same week last year.

Futures Market Closing Prices

Oct 24 Live Cattle closed at $188.400, down $0.900.

Dec 24 Live Cattle closed at $186.425, down $1.525.

Feb 25 Live Cattle closed at $187.050, down $1.575.

Oct 24 Feeder Cattle closed at $250.950, up $0.925.

Nov 24 Feeder Cattle closed at $245.500, down $1.100.

Jan 25 Feeder Cattle closed at $241.975, down $2.050.

On the date of publication, Austin Schroeder did not hold any positions, directly or indirectly, in any of the securities mentioned in this article. All information and data presented is for informational purposes only. For further details, please refer to the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.