Livestock experiencing a drop in production during the afternoon hours
In the world of commodities trading, some significant shifts have been observed this week, particularly in the cattle market. Here's a breakdown of the latest developments.
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Let's delve into the current cattle market trends. As of today, the price for Nov 25 Feeder Cattle stands at $361.275, a decrease of $2.200 compared to the previous figure. The downward trend continues with the Dec 25 Live Cattle price at $240.475, down $0.675, and the Feb 26 Live Cattle price at $241.850, down $0.625.
The USDA has estimated cattle slaughter for Tuesday at 120,000 head, marking an increase of 2,000 head from last week and a decrease of 6,291 head compared to the same Tuesday in 2024.
Cash activity in live cattle has been relatively quiet this week, with some light bids reported at $242. Live cattle futures are experiencing losses across most contracts, with prices ranging from 62 cent to 87 cent lower at midday. Meanwhile, Feeder cattle futures are $2.20 to $2.25 lower across the front months.
The CME Feeder Cattle Index saw a slight increase of $1.05 to $365.52 on September 1. Conversely, USDA Wholesale Boxed Beef prices have increased in the Wednesday AM report. Specifically, Choice boxes are up $2.63 at $416.05, while Select boxes are $1.59 higher to $387.76.
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It's worth noting that the information and data presented in this article are solely for informational purposes. Always conduct thorough research before making any investment decisions.
Lastly, today's Fed Cattle Exchange online auction showed sales on 398 of the 1,238 head offered at $242-$242.50. The price for Oct 25 Feeder Cattle is $361.450, down $2.250, and the price for Oct 25 Live Cattle is $238.650, a decrease of $0.875. The price for Sep 25 Feeder Cattle is $362.025, down $2.225.
As always, stay informed and make wise decisions in your trading ventures.
Disclosure: Austin Schroeder did not have positions in any of the securities mentioned in this article.
