Live cattle futures climbed sharply Wednesday, with contracts advancing 70 cents to $3.45 as bullish momentum gripped the market. Last week’s cash trade established a firm tone, with Southern Plains sales ranging from $189 to $191 while Northern markets commanded $197 to $198. Cash activity has been muted this week, though Wednesday morning’s Fed Cattle Exchange auction via Central Stockyards recorded Texas sales at $193 using the BidTheGrid platform, with live bids sitting at $188 in the same region.
Feeder cattle futures followed suit, posting gains of $2.55 to $2.72 across the board. The CME Feeder Cattle Index rebounded 41 cents on June 25 to $258.31.
Wholesale boxed beef prices softened in the Wednesday afternoon report. Choice cuts declined 54 cents to $322.85 per hundredweight, while Select dropped $2.40 to $302.86, widening the Choice/Select spread to $19.99. USDA estimated Wednesday’s federally inspected slaughter at 117,000 head, bringing the weekly total to 353,000—down 7,000 from the prior week and 14,402 below the comparable period last year.
June 2024 Live Cattle settled at $192.925, up $3.450.
August 2024 Live Cattle settled at $186.750, up $2.325.
October 2024 Live Cattle settled at $186.125, up $1.775.
August 2024 Feeder Cattle settled at $261.775, up $2.725.
September 2024 Feeder Cattle settled at $262.475, up $2.400.
October 2024 Feeder Cattle settled at $262.900, up $2.300.
Also Read
- Australian PM Voices Extreme Concern After OpenAI Agent Breaches Government Health Portal
- AI Executives Warn UN of Existential Risks, Call for Global Regulatory Framework
- Expert: Trump Likely Dismissed Iranian Leader’s UN Outburst With a Smirk
- U.S.-China Trade Truce Extended Through January as Xi Begins State Visit
