Cattle Take Risk Off on Election Day, with Weaker Cash

Live cattle futures posted losses of $1.55 to $2.67 across the board on Tuesday.  Cash trade has been quiet to start the week, with USDA reporting light early at $340 dressed in the north and $215 live. Feeder cattle futures were down $2.80 to $4.35 at the close. The CME Feeder Cattle Index was back down $1.68 on November 2 to $348.78. The weekly OKC feeder cattle auction showed an estimated 4,394 head sold, with prices down $4-12 on feeders and calves falling $10-20 wk/wk.

Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel at $6.86. Choice boxes were up 19 cents to $365.23, with Select $3.43 higher to $358.37. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, taking the weekly total to 214,000. That was down 2,000 head from the week prior and 16,145 head below the same week last year. 

Dec 26 Live Cattle  closed at $218.150, down $1.550,

Feb 27 Live Cattle  closed at $221.425, down $2.100,

Apr 27 Live Cattle  closed at $223.700, down $2.450,

Nov 26 Feeder Cattle  closed at $334.525, down $3.900,

Jan 27 Feeder Cattle  closed at $328.375, down $4.300,

Mar 27 Feeder Cattle  closed at $323.975, down $4.325,