Live cattle futures are slipping lower at midday, down $1.50 to $1.70 so far. Cash trade has started to pick up, with $233 reported in the North on Friday, and $232 South bids. The Friday morning Fed Cattle Exchange online auction showed no sales, with bids of just $230-231. Feeder cattle futures are down $2.30 to $3.60 so far on Friday’s midday. The CME Feeder Cattle Index was up another $4.92 to $368.07 on January 7.
The Thursday update from APHIS showed more active cases of New World Screwworm in several states in Mexico, including Tamaulipas and San Luis Potosi.
USDA Wholesale Boxed Beef prices were lower in the Friday morning report, with the Chc/Sel spread at $3.80. Choice boxes were down $1.55 to $355.24, while Select was 62 cents lower at $351.44. Thursday’s USDA federally inspected cattle slaughter was estimated at 117,000 head, with the week to date total at 465,000 head. That 10,732 head below the same week last year.
Feb 26 Live Cattle are at $233.650, down $1.625,
Apr 26 Live Cattle are at $234.525, down $1.700,
Jun 26 Live Cattle are at $229.600, down $1.675,
Jan 26 Feeder Cattle are at $360.175, down $2.300
Mar 26 Feeder Cattle are at $354.450, down $3.275
Apr 26 Feeder Cattle are at $353.050, down $3.575
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
