Cattle Fade through Wednesday

Cows in pen fair

Live cattle futures ended the midweek session with 42 to 87 cent losses after Turnaround Tuesday buying. Futures now sit $4 to $6 in the red for the week’s move. Feeder cattle also faded on Wednesday with triple digit losses of as much as $2.55. USDA reported some cash sales near $186 to $187 on Wednesday, $1 to $3 weaker than last week. CME’s Feeder Cattle index was $0.54 weaker to $247.73 for 4/2. 

USDA’s Wholesale Boxed Beef prices were weaker on Wednesday with Choice down by $2.86 and Select $2.07 lower. USDA’s FI cattle slaughter estimate for the week through Wednesday was 352k head, a 15k head lower pace than last week and down 17k head from the same week last year. 

Apr 24 Cattle  closed at $180.925, down $0.850,

Jun 24 Cattle  closed at $175.600, down $0.775,

Aug 24 Cattle  closed at $172.700, down $0.425,

Apr 24 Feeder Cattle  closed at $240.950, down $2.550

May 24 Feeder Cattle  closed at $242.575, down $2.275

On the date of publication, Alan Brugler 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.