Live cattle futures are trading with $1.50 to $2 gains at midday. Cash trade has been quiet so far this week, with some northern bids at $216 and southern bids at $218. Feeder cattle futures are extending gains with contracts $3 to $4.52 higher at midday. The CME Feeder Cattle Index was up $5.42 to $337.78 on December 2.
Export Sales data for the week ending on October 30 showed 14,499 MT of beef sales in that week, a 4-week high. Shipments were an 8 week low of 10,249 MT.
USDA reported Wholesale Boxed Beef prices lower in the Thursday AM report, with the Chc/Sel spread widening to $13.13. Choice boxes were down 78 cents to $363.03, while Select was back up $3.22 at $349.90. USDA federally inspected cattle slaughter was estimated at 117,000 head for Wednesday, with the weekly total at 354,000. That was 15,000 head below last week and 12,727 head shy of the same week last year.
Dec 25 Live Cattle are at $220.925, up $1.975,
Feb 26 Live Cattle are at $223.775, up $1.875,
Apr 26 Live Cattle are at $225.000, up $1.600,
Jan 26 Feeder Cattle are at $336.375, up $4.525
Mar 26 Feeder Cattle are at $329.550, up $3.750
Apr 26 Feeder Cattle are at $328.375, up $3.200
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.
