Cattle Close Lower as Beef Slips Again on Thursday
Live cattle futures posted Thursday losses of 75 cents to $1.07. Cash trade got kicked off on Thursday, with trade at $185 across the country, down $1 to $ from last week. Feeder cattle futures were down 45 to 97 cents across the board, with nearby November held up by the index with one week left on the contract, up $1.15. The CME Feeder Cattle Index was up $2.02 at $251.04 on November 13.
USDA wholesale Boxed Beef prices were lower again in the Thursday afternoon report. Choice boxes were down $3.14 to $303.80/cwt, with Select $2.00 lower @ $276.66. The Chc/Sel spread narrowed to $27.14. USDA estimated Thursday federally inspected cattle slaughter at 125,000 head, with the weekly total at 483,000 head. That was 11,000 head below the previous week and down 15,488 head from the same week last year.
Dec 24 Live Cattle closed at $182.950, down $1.075,
Feb 25 Live Cattle closed at $185.100, down $0.975,
Apr 25 Live Cattle closed at $186.925, down $0.750,
Nov 24 Feeder Cattle closed at $247.625, up $1.150,
Jan 25 Feeder Cattle closed at $243.200, down $0.450,
Mar 25 Feeder Cattle closed at $241.725, down $0.475,
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.
