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Cattle See Strength on ThursdayLive cattle futures posted Thursday gains of 32 cents to $1.67 at the close. The Central Stockyards online Fed Cattle Exchange auction showed sales of 393 head on the 2,380 head at $189. Outside of that, Southern sale were tallied at $190, with the North at $190-192. Feeder cattle futures closed out the Thursday session with contracts up 67 cents to $1.70. The CME Feeder Cattle Index was back down $1.15 at $249.56 on October 23. Ahead of the Friday afternoon Cattle on Feed report, analysts are expecting to see September placements tallied at 96% of last year’s total, with marketings at 102% of the 2023 total. October 1 on feed inventory is expected to be down 0.3%. USDA wholesale Boxed Beef prices were lower in the Thursday afternoon report. Choice boxes were down 24 cents to $321.17/cwt, with Select $1.43 lower @ $294.34. The Chc/Select spread widened to $26.83. USDA estimated Thursday’s federally inspected cattle slaughter at 124,000 head, taking the week to date total to 491,000 head. That is 3,000 head below the previous week and down 10,785 head from the same week last year. Oct 24 Live Cattle closed at $189.300, up $1.675, Dec 24 Live Cattle closed at $189.250, up $1.375, Feb 25 Live Cattle closed at $189.950, up $1.325, Oct 24 Feeder Cattle closed at $249.400, up $0.825, Nov 24 Feeder Cattle closed at $248.525, up $1.300, Jan 25 Feeder Cattle closed at $245.525, up $1.700, 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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