Live cattle futures are gaining steam from the cash market, with February up $1.10 at midday. April is up 7 cents with other contracts lower. Cash trade has came in a $238-240 live across the country and $375-378 dressed. The Friday morning Fed Cattle Exchange online auction showed sales of $240-241 live on 719 head, with dressed trade at 375 on 36 head of the 1,510 head listed. Feeder cattle futures are falling $3.95 to $4.35 so far on Friday. The CME Feeder Cattle Index was back up $2.70 to $366.69 on January 28.
Thursday afternoon’s update from APHIS showed 4 new cases of new world screwworm in Tamaulipas and 1 new case on San Luis Potosi, taking the total active cases in those Mexican states to 13.
The annual Cattle Inventory report from USDA will be released later today, with traders looking for all cattle an calves down 0.3% from last year. Beef cows are seen up 0.4%, with replacement heifers up 1.7% yr/yr.
Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel spread narrowing to $3.44. Choice boxes were down $1.22 to $366.44, while Select was $2.28 higher at $363.00. Thursday’s USDA federally inspected cattle slaughter was estimated at 112,000 head, with the weekly total at 436,000 head. That was 11,000 head below last week and 47,143 head shy of the same week last year.
Feb 26 Live Cattle are at $236.600, up $1.100,
Apr 26 Live Cattle are at $237.350, up $0.075,
Jun 26 Live Cattle are at $232.375, down $0.900,
Mar 26 Feeder Cattle are at $360.750, down $4.375
Apr 26 Feeder Cattle are at $358.875, down $4.350
May 26 Feeder Cattle are at $356.025, down $3.950
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.
