Cattle Rally Continues on Wednesday
Live cattle futures are continuing to rally to new all time highs with contracts up $1.15 to $1.82. There were no deliveries issued for August live cattle on Tuesday. Cash trade has been quiet this week. The Central Stockyards Fed Cattle Exchange online auction showed $237 sales in TX on 479 head of the 1,558 head offered. Feeder cattle futures are rallying another $3.47 to $3.95 at midday. The CME Feeder Cattle Index was back up 21 cents to $336.03 on August 4.
USDA Wholesale Boxed Beef prices continued to post a rebound in the Wednesday morning report, with the Chc/Sel spread at $23.17. Choice boxes were up $4.04 at $373.98, while Select was $4.87 higher to $350.81. USDA estimated cattle slaughter for Tuesday at 115,000 head, with the weekly total at 216,000 head. That was down 5,000 head from last week and 22,589 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $235.425, up $1.150,
Oct 25 Live Cattle are at $228.750, up $1.650,
Dec 25 Live Cattle are at $229.975, up $1.825,
Aug 25 Feeder Cattle are at $344.525, up $3.475
Sep 25 Feeder Cattle are at $343.500, up $3.950
Oct 25 Feeder Cattle are at $341.675, up $3.850
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.