Cattle Rallying on Wednesday

Live cattle futures are trading with contracts $1.65 to $2.50 higher at midday. Cash trade has been quiet this week following the $232-235 last week. The Wednesday Fed Cattle Exchange online auction showed no sales on the 734 head offered, with bids at $230-230.50 live and $365 dressed.  Feeder cattle futures are $2.15 to $2.90 in the green on Wednesday.  The CME Feeder Cattle Index was back up $2.24 on August 3 to $349.13. 

Wholesale Boxed Beef prices were mixed in the Wednesday morning report. Choice boxes were down 40 cents at $369.25, with Select $3.52 higher to $350.02. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, with the week to date total at 200,000 head. That is up 2,000 head from the previous week but 17,685 head below the same week last year.

Aug 26 Live Cattle  are at $234.450, up $2.500,

Oct 26 Live Cattle  are at $229.800, up $1.900,

Dec 26 Live Cattle  are at $228.925, up $1.650,

Aug 26 Feeder Cattle  are at $353.350, up $2.150

Sep 26 Feeder Cattle  are at $348.875, up $2.725

Oct 26 Feeder Cattle  are at $340.050, up $2.900

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.