Cattle Extending Push to Contract Highs on Wednesday

Austin Schroeder Barchart Wed Jul 9, 12:26PM CDT
Two cows looking at camera by Clara Bastian via iStock

Live cattle futures are 22 cents to $1 higher on Wednesday. Cash trade saw very light $225 Southern action reported on Tuesday. The Wednesday morning Fed Cattle Exchange online auction from Central Stockyards, showed no sales on the 928 head, with bids of just $220. Feeder cattle futures are up $1.05 $1.72 at midday.  The CME Feeder Cattle Index was up 8 cents to $311.40 on July 7.

USDA Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel spread narrowing to $14.55. Choice boxes were down $3.55 to $389.49, while Select was quoted $3.52 at $374.94/cwt. Estimated cattle slaughter for Tuesday was 118,000 head according to the USDA, with the weekly total at 232,000 head. That was 6,000 head below last week and 2,799 head lower vs. the same week last year.

Aug 25 Live Cattle  are at $220.200, up $0.225,

Oct 25 Live Cattle  are at $217.700, up $0.875,

Dec 25 Live Cattle  are at $217.625, up $1.000,

Aug 25 Feeder Cattle  are at $320.850, up $1.725

Sep 25 Feeder Cattle  are at $320.400, up $1.225

Oct 25 Feeder Cattle  are at $318.300, up $1.050


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.