On Wednesday, live cattle futures saw increases ranging from 60 cents to $1.40 across various contracts. Cash trade has not yet commenced this week, with prior sales in the Southern region recorded at $185-187 and Northern trade at $193 last week. In today’s online auction at the Central Stockyards Fed Cattle Exchange, there were no sales for the 944 head listed, with bids noted at $185 live and $186-187 using the BidTheGrid™ method. Meanwhile, feeder cattle futures gained between $1.42 and $2.17, while the CME Feeder Cattle Index decreased by $0.23 to settle at $245.32 on August 13.
In the USDA’s Wednesday PM report, wholesale Boxed Beef prices fell, with Choice boxes decreasing by $2.05 to $314.6388 and Select boxes down 11 cents to $300.50, which narrowed the Chc/Select spread to $13.38. Estimated weekly slaughter figures reached 122,000 head on Wednesday, bringing the total to 356,000 head, a decrease of 7,000 head from last week and 10,991 head lower than the same period last year.
Key closing prices for cattle futures on August 24 include Live Cattle at $184.600 (up $0.600), Oct 24 at $182.125 (up $1.375), Dec 24 at $181.600 (up $1.300), and Feeder Cattle at $247.900 (up $1.425), Sept 24 at $244.350 (up $2.070), and Oct 24 at $242.100 (up $2.175).
