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Cattle Retreat Lower on Wednesday
Live cattle futures posted losses on Wednesday, down $1.525 to $2.60. Cash trade has yet to get kicked off this week. The Wednesday morning Fed Cattle Exchange online auction from Central Stockyards showed sales on one lot at $210 in TX using the BidTheGrid™ method. Other bids were $202-205. Feeder cattle futures were $2.90 to $3.20 lower, with January $1.27 in the red. The CME Feeder Cattle Index was up another 39 cents from the day prior at $279.45 on January 28.
USDA wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel spread @ $9.87. Choice boxes were back down $1.91 at $330.54/cwt, with Select $1.29 lower at $320.67. USDA estimated federally inspected cattle slaughter at 124,000 head on Wednesday, taking the weekly total to 362,000 head. That is 1,000 head below last week and down 12,128 head from the same week last year.
Feb 25 Live Cattle closed at $207.025, down $1.525,
Apr 25 Live Cattle closed at $204.950, down $2.325,
Jun 25 Live Cattle closed at $198.750, down $2.600,
Jan 25 Feeder Cattle closed at $280.550, down $1.275,
Mar 25 Feeder Cattle closed at $275.275, down $2.975,
Apr 25 Feeder Cattle closed at $274.600, down $3.200,
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.