Cattle Hold Rally on Wednesday, as Feeders Add Another $4+

Austin Schroeder Barchart Wed Oct 8, 5:02PM CDT
Close up cows in field by lightstock via iStock

Live cattle futures were 75 cents to $1.50 higher across most contracts on Wednesday. There were no deliveries again for October live cattle on Wednesday. Cash trade has yet to pick up this week across the country, with a few $230 in IA reported on Tuesday. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,866 head offered, with bids at $230. Feeder cattle futures were $4 to $4.60 higher at the Wednesday close to lead the charge higher. The CME Feeder Cattle Index was up another $1.27 at $365.51 on October 7. 

USDA Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report, with the Chc/Sel spread widening to $20.92. Choice boxes were up 19 cents to $366.16, while Select was $3.64 lower to $345.38. USDA federally inspected cattle slaughter for Wednesday was estimated at 118,000 head, with the weekly total at 335,000 head. That was 13,000 head below last week and 24,512 shy of the same week last year. 

Oct 25 Live Cattle  closed at $233.850, up $0.750,

Dec 25 Live Cattle  closed at $238.875, up $1.150,

Feb 26 Live Cattle  closed at $242.225, up $1.500,

Oct 25 Feeder Cattle  closed at $369.500, up $4.000,

Nov 25 Feeder Cattle  closed at $368.825, up $4.575,

Jan 26 Feeder Cattle  closed at $363.525, up $4.525,


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.