Live cattle futures are trading with 85 cent to $1.12 losses at midday. This morning’s Central Stockyards Fed Cattle Exchange online auction saw no sale on the 1,614 head offered, with bids of $184-184 via the BidTheGrid™ method. Feeder cattle futures are down a nickel to $1.05 on the day. The CME Feeder Cattle Index was down 9 cents at $247.29 on October 1.
USDA reported export sales of 22,542 MT for beef in the week of 9/26, a 7-week high. South Korea was the largest buyer of 7,900 MT, with China in for 6,200 MT. Export shipments were a calendar year high of 17,739 MT. Much of that was sent to South Korea (4,100 MT), Japan (4,000 MT), and China (2,900 MT).
USDA wholesale Boxed Beef prices were mixed in the Thursday AM report. Choice boxes were down 32 cents to $299.49/cwt, with Select 55 cents higher @ $284.48. The Chc/Select spread narrowed to $15.01. USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, taking the weekly total to 367,000 head. That is 4,000 head above the previous week but 6,888 head below the same week last year.
Oct 24 Live Cattle are at $186.575, down $0.850,
Dec 24 Live Cattle are at $186.575, down $1.125,
Feb 25 Live Cattle are at $187.550, down $0.850,
Oct 24 Feeder Cattle are at $248.675, down $1.050
Nov 24 Feeder Cattle are at $247.700, down $0.850
Jan 25 Feeder Cattle are at $242.025, down $0.050
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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