Cattle Futures Show Mild Gains Amid Steady Cash Trade

Live cattle futures closed higher on Wednesday, rising 62 cents to $1.35. However, cash trade has yet to begin this week. During the Central Stockyards Fed Cattle Exchange this morning, no sales were reported for the 3,044 head available, with bids between $185 and $187. Feeder cattle futures experienced a gain as well, closing up between $1.15 and $2.20 on Wednesday. The CME Feeder Cattle Index decreased by one cent to $250.72 as of November 5.

Wholesale Beef Prices Decline

The USDA reported a decrease in wholesale boxed beef prices in the afternoon session on Wednesday. Choice boxes fell by $1.62, settling at $315.59 per hundredweight, while Select boxes dropped $2.04 to $283.20. The spread between Choice and Select beef prices increased to $32.39. Additionally, the USDA estimated that federally inspected cattle slaughter reached 125,000 head on Wednesday, bringing the total for the week so far to 369,000 head. This figure matches last week’s total but is down by 4,798 head compared to the same time last year.

Closing Prices for Cattle Futures

Dec 24 Live Cattle closed at $185.400, up $0.625,

Feb 25 Live Cattle closed at $186.725, up $0.775,

Apr 25 Live Cattle closed at $187.800, up $0.800,

Nov 24 Feeder Cattle closed at $247.700, up $1.550,

Jan 25 Feeder Cattle closed at $244.025, up $1.675,

Mar 25 Feeder Cattle closed at $241.750, up $1.250,

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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