Live cattle futures are slipping by 12 to 47 cents at midday, with feeder cattle futures also down $1.10 to $1.60, reflecting broad market weakness. This decline is observed amid a lack of reported cash trade and no bids on the Fed Cattle exchange this week. While USDA wholesale boxed beef prices showed mixed results, with Choice cuts rising and Select falling, federally inspected cattle slaughter is up week-over-week but remains below last year's figures, suggesting evolving supply-demand dynamics.
Live cattle futures are experiencing broad weakness, declining 12 to 47 cents at midday, with feeder cattle futures also down $1.10 to $1.60. This market softness is exacerbated by a lack of reported cash trade and zero bids on the 1,172 head offered at the Wednesday Fed Cattle exchange. The absence of active cash market participation suggests underlying demand concerns or price discovery challenges. Despite the futures downturn, the CME Feeder Cattle Index rose $4.02 to $373.02 on October 13, indicating some recent strength in the underlying cash feeder market. Wholesale boxed beef prices were mixed, with Choice cuts up $2.11 to $366.53, while Select cuts decreased $1.24 to $349.31. This divergence highlights varied demand across beef grades. Federally inspected cattle slaughter increased by 9,000 head week-over-week to 226,000. However, this figure remains 17,701 head below the same period last year, pointing to persistent year-over-year supply constraints. The overall market sentiment is moderately negative, suggesting investor caution in the cattle complex.
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moderately negative
Sentiment Score
-0.35
Ticker Sentiment
