Live cattle futures posted gains of 90 cents to $1.60 on Thursday. Cash trade has yet to get fully kicked off this week, as last week was $232-233 across the country. The Thursday morning Fed Cattle Exchange online auction showed no sales or bids on the 974 head offered. Feeder cattle futures were back up $3.67 to $4.85 to close out Thursday. The CME Feeder Cattle Index was up 27 cents to $369.42 on January 13.
Export Sales data showed beef bookings at 11,192 MT in the week of 1/8. South Korea was the largest buyer of 3,800 MT, with 2,000 MT sold to Japan. Shipments were tallied at 11,657 MT for that week. Japan led the way in destinations with 3,400 MT, with 3,100 MT to South Korea.
USDA Wholesale Boxed Beef prices were higher in the Thursday PM report, with the Chc/Sel spread widening back out to $1.06. Choice boxes were up $2.24 to $360.77, while Select was $2.06 higher at $359.71. Thursday’s USDA federally inspected cattle slaughter was estimated at 117,000 head, taking the week to date total to 469,000. That was 4,000 head above last week and 15,813 shy of the same week last year.
Feb 26 Live Cattle closed at $236.050, up $0.900,
Apr 26 Live Cattle closed at $238.425, up $1.100,
Jun 26 Live Cattle closed at $233.900, up $1.575,
Jan 26 Feeder Cattle closed at $368.425, up $3.675,
Mar 26 Feeder Cattle closed at $364.550, up $4.850,
Apr 26 Feeder Cattle closed at $362.925, up $4.750,
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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