Cattle Rally on Thursday

Live cattle futures were up $1.57 to $2.12 higher across the board on Thursday. There still have been no deliveries against October live cattle. USDA reported a few dressed northern sales at $345-355 in the north. The Thursday Fed Cattle Exchange online auction showed $224-226 bids on 898 of the 2,596 head offered, with no sales. Other bids across the country are being reported at $226. Feeders were the leaders, as futures closed with contracts $2.42 to $4.40 higher. The CME Feeder Cattle Index was another $1.22 higher on October 14 to $342.64. 

Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel at $21.36. Choice boxes were up $2.52 to $373.98, with Select $5.85 lower to $352.62. USDA estimated Federally inspected cattle slaughter for Thursday at 104,000 head, with the week to date total at 430,000 head. That is now down 2,000 from the week prior and 34,307 head below the same week last year. 

Oct 26 Live Cattle  closed at $225.950, up $2.050,

Dec 26 Live Cattle  closed at $227.250, up $2.125,

Feb 27 Live Cattle  closed at $229.625, up $2.200,

Oct 26 Feeder Cattle  closed at $343.375, up $2.425,

Nov 26 Feeder Cattle  closed at $341.950, up $3.500,

Jan 27 Feeder Cattle  closed at $337.900, up $4.300,

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.