Live Cattle Futures Decline Amid Sluggish Trading Activity

On Wednesday, live cattle futures dropped between $1 and $1.20 in the front months. This week’s cash trade has been slow, with light activity in Kansas showing prices at $220 today. The Fed Cattle Exchange online auction reported no sales on 1,546 head offered, with bids ranging from $215 to $220. Feeder cattle futures also declined, with contracts down $2.525 to $2.82. The CME Feeder Cattle Index fell 25 cents on May 27, averaging $295.84.

Wholesale Beef Prices Increase

The USDA’s National Wholesale Boxed Beef report indicated prices rose on Wednesday afternoon, with the Choice/Select spread at $13.68. Choice boxes increased by $3.57 to $365.42, while Select boxes were up 91 cents, now quoted at $351.74 per cwt. USDA’s federally inspected cattle slaughter for Wednesday reached 119,000 head, bringing the weekly total to 235,000 head. This figure is down 15,266 head compared to the same holiday week last year.

Closing Prices for Cattle Futures

Jun 25 Live Cattle closed at $213.925, down $1.200.

Aug 25 Live Cattle closed at $208.175, down $1.125.

Oct 25 Live Cattle closed at $206.075, down $1.000.

Aug 25 Feeder Cattle closed at $295.625, down $2.525.

Sep 25 Feeder Cattle closed at $294.475, down $2.775.

Oct 25 Feeder Cattle closed at $292.525, down $2.825.

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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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