Live Cattle Futures Decline Amid Market Adjustments

Live cattle futures experienced significant losses on Wednesday, declining between $1.525 and $2.60. Cash trading has yet to commence this week. The Fed Cattle Exchange online auction in Central Stockyards indicated one lot sold for $210 in Texas using the BidTheGrid™ system, while other bids ranged from $202 to $205. Additionally, feeder cattle futures fell by $2.90 to $3.20, with January futures down $1.27. The CME Feeder Cattle Index rose by 39 cents from the previous day, reaching $279.45 on January 28.

Wholesale Beef Prices Take a Hit

The USDA reported lower wholesale Boxed Beef prices in the afternoon update, with the Choice/Select spread at $9.87. Choice boxes decreased by $1.91, settling at $330.54 per hundredweight, while Select boxes dropped $1.29 to $320.67. On Wednesday, USDA estimated federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 362,000 head. This figure reflects a reduction of 1,000 head from the previous week and a decline of 12,128 head compared to the same week last year.

Latest Futures Prices

Feb 25 Live Cattle closed at $207.025, down $1.525.

Apr 25 Live Cattle closed at $204.950, down $2.325.

Jun 25 Live Cattle closed at $198.750, down $2.600.

Jan 25 Feeder Cattle closed at $280.550, down $1.275.

Mar 25 Feeder Cattle closed at $275.275, down $2.975.

Apr 25 Feeder Cattle closed at $274.600, down $3.200.

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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