Live cattle futures are trading with losses of $1.20 to $2 so far at Wednesday’s midday. 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 are down $2.50 to $2.90 so far on Wednesday. The CME Feeder Cattle Index was back up 56 cents to $369.12 on January 12.
USDA Wholesale Boxed Beef prices were higher in the Wednesday AM report, with the Chc/Sel spread widening back out to $1.82. Choice boxes were up $1.34 to $359.33, while Select was 33 cents higher at $357.51. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, taking the week to date total to 232,000. That was 1,000 head below last week and 8,688 shy of the same week last year.
Feb 26 Live Cattle are at $235.200, down $2.050,
Apr 26 Live Cattle are at $237.400, down $1.575,
Jun 26 Live Cattle are at $232.200, down $1.200,
Jan 26 Feeder Cattle are at $363.675, down $2.600
Mar 26 Feeder Cattle are at $359.250, down $2.875
Apr 26 Feeder Cattle are at $357.950, down $2.650
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.
