Live cattle futures are down 20 to 45 cents at midday. Cash trade has been quiet early in the week. The Wednesday Fed Cattle Exchange online auction showed $226 sales on one lot of the 2,914 head offered, with other bids of $223. Feeder cattle futures are trading with 35 cent to 92 cent losses on Wednesday. The CME Feeder Cattle Index was another $2.85 higher on October 12 to $341.47. 

Tuesday’s Crop Progress report showed the US pasture rating at 22% gd/ex, down 1% on the week. The Brugler500 index was steady at 257.

Wholesale Boxed Beef prices were higher in the Wednesday morning report, with the Chc/Sel at $16.57. Choice boxes were down 43 cents to $375.58, with Select 46 cents to $359.01. USDA estimated Federally inspected cattle slaughter for Tuesday at 110,000 head, with the week to date total at 216,000 head. That was up 4,000 from the week prior but 10,636 head below the same week last year. 

Oct 26 Live Cattle  are at $224.425, down $0.200,

Dec 26 Live Cattle  are at $225.975, down $0.400,

Feb 27 Live Cattle  are at $228.150, down $0.425,

Oct 26 Feeder Cattle  are at $342.150, down $0.925

Nov 26 Feeder Cattle  are at $340.200, down $0.825

Jan 27 Feeder Cattle  are at $335.500, down $0.350

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.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.