Feeders the Leaders on Thursday as the Cattle Rally Continues
no deliveries again for October live cattle again on Thursday, with the oldest long dated June 26. Cash trade has yet to pick up this week across the country, with a few $230 sales early this week in the North and other $230 bids being reported. The Thursday Fed Cattle Exchange online auction showed sales on 140 of the 1,866 head offered at $232.50 using the BidTheGrid™ method. Other bids were at $230 to $231.50. Feeder cattle futures shot up another $4.50 to $5.55 across the front months to close out the Thursday session. The CME Feeder Cattle Index was up another $1.84 at $367.35 on October 8.
USDA Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel spread at $20.89. Choice boxes were down 94 cents to $365.22, while Select was 91 cents lower to $344.33. USDA federally inspected cattle slaughter for Thursday was estimated at 111,000 head, with the weekly total at 446,000 head. That is 12,000 head below last week and 29,807 shy of the same week last year.
Oct 25 Live Cattle closed at $235.025, up $1.175,
Dec 25 Live Cattle closed at $239.900, up $1.025,
Feb 26 Live Cattle closed at $243.400, up $1.175,
Oct 25 Feeder Cattle closed at $374.025, up $4.525,
Nov 25 Feeder Cattle closed at $374.050, up $5.225,
Jan 26 Feeder Cattle closed at $369.050, up $5.525,
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.