Live cattle futures are reported 37 cents higher at midday on Thursday, with feeder cattle futures also showing increases of 25 cents to $1. The CME Feeder Cattle Index rose by 45 cents on September 8 to $327.43. However, cash trade remains inactive, with no sales reported during the Wednesday Fed Cattle Exchange, which had offered 952 head at $220 live bids.
Wholesale boxed beef prices decreased in Thursday’s report, with Choice boxes down $2.97 to $377.80 and Select boxes falling 69 cents to $351.65, widening the Chc/Sel spread to $26.15. The USDA estimated Wednesday’s federally inspected cattle slaughter at 109,000 head, contributing to a weekly total of 220,000 head, which is notably lower due to the recent holiday.
Current prices for live and feeder cattle futures include: Oct 26 Live Cattle at $216.225 (up $0.375), Dec 26 Live Cattle at $218.500 (up $0.025), Feb 27 Live Cattle at $220.150 (down $0.175), and Sep 26 Feeder Cattle at $330.675 (up $0.975).
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