Cattle Falling Lower on Wednesday

Live cattle futures are trading with contracts 45 to 85 cents lower on Wednesday. Cash trade has been quiet to start the week, with USDA reporting light early at $340 dressed in the north and $216-219 live. Sales in the south have been near $218. The Wednesday Fed Cattle Exchange online auction showed no sales on the 3,018 head offered, with bids at $216. Feeder cattle futures are down $2.85 to $3.65 at midday. The CME Feeder Cattle Index was back down $1.68 on November 2 to $348.78. 

Census data converted to a carcass basis showed beef exports of just 179.9 million lbs of beef exported in September, slightly above last year and down 9% from August.

Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel at $6.50. Choice boxes were down 94 cents to $364.29, with Select 58 cents lower to $357.79. 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  are at $217.700, down $0.450,

Feb 27 Live Cattle  are at $220.600, down $0.825,

Apr 27 Live Cattle  are at $223.025, down $0.675,

Nov 26 Feeder Cattle  are at $331.675, down $2.850

Jan 27 Feeder Cattle  are at $325.000, down $3.375

Mar 27 Feeder Cattle  are at $320.325, down $3.650