Cattle Prices Decline on Wednesday

Cattle Market Update: Prices Decline on Wednesday

On Wednesday, live cattle futures experienced notable declines, with front-month contracts dropping between $2 and $2.20. Cash market activity has remained subdued this week, with bids in the Southern region reaching $232. The Fed Cattle Exchange's online auction in the morning saw only a single lot sold at $360.50 dressed, while live bids ranged from $230 to $232. Feeder cattle futures also ended the day lower, falling between $2.50 and $3.55 per contract. Meanwhile, the CME Feeder Cattle Index rose by $0.78, reaching $363.15 as of January 6.

The USDA's Wednesday afternoon report on wholesale boxed beef prices showed mixed results. The price gap between Choice and Select widened to $5.00. Choice boxed beef increased by $3.03 to $3524.28, whereas Select dropped by $1.80 to $349.28. According to Tuesday's USDA data, federally inspected cattle slaughter was estimated at 115,000 head for the day, bringing the weekly total to 348,000 head. This figure is up by 13,000 head compared to the previous week, but still 9,543 head below the same period last year.

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Recent Cattle Futures Closing Prices

• Feb 26 Live Cattle settled at $234.525, down $2.100
• Apr 26 Live Cattle ended at $235.175, down $2.200
• Jun 26 Live Cattle closed at $230.025, down $2.050
• Jan 26 Feeder Cattle finished at $359.600, down $2.575
• Mar 26 Feeder Cattle ended at $355.500, down $3.525
• Apr 26 Feeder Cattle settled at $354.675, down $3.450