Cattle Losses Continuing on Thursday
Live cattle futures are trading $1.95 to 2.25 lower so far on the Thursday session. Cash activity has started to pick up this week, with some sales of $242 reported, steady in the South and weaker in the North. This morning’s Fed Catte Exchange online auction showed sales of $242.50 on 255 of the 752 head offered. Feeder cattle futures are $2.87 to $4 in the red so far on Thursday. The CME Feeder Cattle Index was back down 9 cents at $365.43 on September 2.
Census data converted to a carcass basis showed a 10-year low in exports for July at 210.6 million lbs.
USDA Wholesale Boxed Beef prices were higher in the Thursday AM report, with the Chc/Sel spread at $26.84. Choice boxes were up 28 cents at $416.29, while Select was $1.72 higher to $389.45. USDA estimated cattle slaughter for Wednesday at 120,000 head, with the week to date total at 242,000 head. That was 13,431 head lower vs. the same week in 2024.
Oct 25 Live Cattle are at $236.375, down $1.950,
Dec 25 Live Cattle are at $238.025, down $2.225,
Feb 26 Live Cattle are at $239.650, down $1.975,
Sep 25 Feeder Cattle are at $359.200, down $2.875
Oct 25 Feeder Cattle are at $357.950, down $3.550
Nov 25 Feeder Cattle are at $357.100, down $3.975
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.