Live cattle futures ended the Tuesday session with most contracts 35 cents to $1.325 lower. Feeder cattle futures were down a nickel to 50 cents. The CME feeder cattle index was down 4 cents from the previous day at $148.97 on September 11. Wholesale beef prices were mixed in the Tuesday afternoon report, with the Ch/Se spread flipping to the negative side. That usually only occurs in February or March. Select is now showing a 7 cent premium giving feedlots little incentive to add finish. Choice was down 77 cents at $190.79, as select boxes were 48 cents higher at $190.86. FI cattle slaughter was estimated at 233,000 head through Tuesday, which is 10,000 head larger than the same week in 2016. The FCE online auction will show 1,063 head for sale, with a majority from KS.

Market Commentary provided by:

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