Cattle Hold onto Wednesday Gains, as Feeders Remain the Leaders

Live cattle futures posted strength on Wednesday, with contracts up 77 cents to $1.07 at the close, with some contracts more than $1 off the intraday highs. Cash trade has yet to be reported this week. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,800 head offered, with a few bids of $224-224.50 live and $349 dressed. Feeder cattle futures led the rally on Wednesday, with contracts up $1.92 to $3.70 on the session. The CME Feeder Cattle Index was back down $1.29 on October 19 to $342.16. 

Wholesale Boxed Beef prices were lower in the Wednesday afternoon report, with the Chc/Sel at $17.25. Choice boxes were down 71 cents to $372.59, with Select back down $6.20 to $355.34. USDA estimated Federally inspected cattle slaughter for Wednesday at 110,000 head, as the week to date total is 327,000. That was 1,000 head above the week prior and now 469 head above the same week last year. 

Oct 26 Live Cattle  closed at $230.425, up $0.975,

Dec 26 Live Cattle  closed at $231.125, up $0.950,

Feb 27 Live Cattle  closed at $233.825, up $0.725,

Oct 26 Feeder Cattle  closed at $347.825, up $1.925,

Nov 26 Feeder Cattle  closed at $348.825, up $2.525,

Jan 27 Feeder Cattle  closed at $345.825, up $3.200,