Cattle Rallies on Wednesday

Live cattle futures posted $1.50 to $3.10 gains across the board on the Midweek session. Early cash trade has been reported at $350 dressed in the North, with $223 live bids. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,696 head offered with bids reported at $223. Feeder cattle futures saw a 75 cent loss in the soon to expire September contract (Thursday), with other contracts $5.30 to $6.92 higher at the close. The CME Feeder Cattle Index was down $1.76 on September 22 to $336.98.

Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel at $24.97. Choice boxes were down $1.58 at $377.31, with Select $5.51 lower to $352.34. USDA estimated Federally inspected cattle slaughter for Wednesday at 94,000 head and taking the week to date total at 299,000 head. That is 14,000 head below last week on a revision to Tuesday and 52,109 head below the same week last year.

Oct 26 Live Cattle  closed at $220.925, up $2.150,

Dec 26 Live Cattle  closed at $222.350, up $2.900,

Feb 27 Live Cattle  closed at $223.650, up $3.100,

Sep 26 Feeder Cattle  closed at $336.525, down $0.750,

Oct 26 Feeder Cattle  closed at $333.325, up $5.300,

Nov 26 Feeder Cattle  closed at $329.500, up $6.300,