Live cattle futures posted steady to 20 cent higher trade across all but the nearby October contract, which was down 50 cents. Cash trade has yet to kick off this week. This morning’s Central Stockyards online Fed Cattle Exchange auction showed no sales on the 1,354 head listed, with bids of $178 to $179 and asks of $183-184.  Feeder cattle futures were down 80 cents to 7 cents higher at the close. The CME Feeder Cattle Index was back down a nickel at $243.39 on September 17. 

Friday’s Cattle on Feed report is expected to show August placements down 1% from a year ago, with August marketings dropping 3.4% according to a Reuters survey of analysts. September 1 on feed estimates are running up 0.9% from 2023.

USDA wholesale Boxed Beef prices lower in the Wednesday afternoon report. Choice boxes were down another $2.53 at $301.38, with Select $2.47 lower @ $289.75. The Chc/Select spread widened to $11.63. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 371,000 head. That is 9,000 head above the previous week and 3,427 head below the same week last year.

Oct 24 Live Cattle  closed at $178.300, down $0.500,

Dec 24 Live Cattle  closed at $179.850, unch,

Feb 25 Live Cattle  closed at $181.075, up $0.075,

Sep 24 Feeder Cattle  closed at $242.825, down $0.475,

Oct 24 Feeder Cattle  closed at $239.950, down $0.800,

Nov 24 Feeder Cattle  closed at $238.125, down $0.175,