Cattle Continue Higher on Thursday

Live cattle futures closed with 80 cent to $1.77 gains on Thursday. There were no new delivers against October live cattle on Thursday. Cash trade started to pick up at $240 in the North this week, with southern action yet to get kicked off. The Thursday Fed Cattle exchange saw no bids or sales on the 1,172 head offered. Feeder cattle were 25 to 75 cents higher in most contracts, with October down a nickel. The CME Feeder Cattle Index was up another 63 cents at $375.10 on October 15. 

USDA Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel spread at $17.18. Choice boxes were down 37 cents to $366.11, while Select was 23 cents lower at $348.93. USDA federally inspected cattle slaughter for Thursday was estimated at 118,000 head, with the weekly total at 466,000. That is 20,000 head above last week but 20,553 shy of the same week last year. 

Oct 25 Live Cattle  closed at $243.950, up $1.775,

Dec 25 Live Cattle  closed at $247.875, up $1.100,

Feb 26 Live Cattle  closed at $249.550, up $0.800,

Oct 25 Feeder Cattle  closed at $379.675, down $0.050,

Nov 25 Feeder Cattle  closed at $380.950, up $0.275,

Jan 26 Feeder Cattle  closed at $378.550, up $0.700,

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.

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