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Headlines
- Live cattle futures experienced a decline of 2 to 25 cents on Monday, with the week's trading yet to gain momentum. Cash trade prices from last week ranged between $180 and $182 in the South and $181 to $182 in the North, showing slight increases.
- Feeder cattle futures showed varied results, with contracts fluctuating from 60 cents lower to 40 cents higherThe CME Feeder Cattle Index decreased by 64 cents to $242.68 as of September 13The upcoming OKC Feeder Cattle auction is expected to offer around 6,500 head, with noted price increases for feeder steers and calves.
- USDA’s Monday PM report indicated a decrease in wholesale boxed beef pricesChoice boxes fell by 34 cents to $304.57, while Select boxes dropped by $2.03 to $292.14The spread between Choice and Select widened to $12.43Monday’s federally inspected cattle slaughter was reported at 121,000 head, showing an increase compared to the previous Monday and the same day last year.
Live cattle futures are experiencing a decrease of 2 to 25 cents as the week begins, with Monday’s trading mainly focused on compiling showlistsLast week’s cash trade saw prices in the South ranging from $180 to $182, reflecting a steady to $1 increase compared to the previous weekIn the North, prices were steady to $1 higher, ranging from $181 to $182Meanwhile, financial stocks have been showing varied performance, with some sectors exhibiting more stability than the commodities market.
Feeder cattle futures presented mixed results, with some contracts showing a decline of 60 cents and others rising by up to 40 centsThe CME Feeder Cattle Index fell by 64 cents to $242.68 as of September 13The upcoming weekly OKC Feeder Cattle auction is expected to list approximately 6,500 head for saleNoteworthy price increases have been observed for feeder steers and steer/heifer calves, with increases of $3 to $8, and feeder heifers up by $2 to $5.
The USDA’s Monday PM report revealed a decrease in wholesale boxed beef pricesChoice boxes decreased by 34 cents to $304.57, while Select boxes fell by $2.03 to $292.14The difference between Choice and Select prices widened to $12.43The USDA estimated Monday’s federally inspected cattle slaughter at 121,000 head, which is 7,000 head more than the previous Monday and slightly higher than the same day last year.
