Live cattle futures closed the Wednesday session with contracts down $1 to $2.10. Cash trade has yet to get fully kicked off this week, as last week was $232-233 across the country. The Wednesday morning Fed Cattle Exchange online auction showed no sales or bids on the 974 head offered. Feeder cattle futures were $1.52 to $2.50 lower at the final bell on Wednesday. The CME Feeder Cattle Index was up 57 cents to $369.69 on January 13.
USDA Wholesale Boxed Beef prices were higher in the Wednesday PM report, with the Chc/Sel spread widening back out to 88 cents. Choice boxes were up 54 cents to $358.53, while Select was 47 cents higher at $357.65. Wednesday’s USDA federally inspected cattle slaughter was estimated at 117,000 head, taking the week to date total to 352,000. That was 4,000 head below last week and 10,841 shy of the same week last year.
Feb 26 Live Cattle closed at $235.150, down $2.100,
Apr 26 Live Cattle closed at $237.325, down $1.650,
Jun 26 Live Cattle closed at $232.325, down $1.075,
Jan 26 Feeder Cattle closed at $364.750, down $1.525,
Mar 26 Feeder Cattle closed at $359.700, down $2.425,
Apr 26 Feeder Cattle closed at $358.175, down $2.425,
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.
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