Live cattle futures closed with gains of $1.45 to $2.27. Cash trade last week was reported at $229-230. This week has been quiet so far, with the Tuesday morning Fed Cattle Exchange showed dressed sales of $355 on 40 of the 1,278 head offered, with bids of $225. Feeder cattle futures posted Tuesday gains of $2.55 to $3 at the close. CME’s Feeder Cattle Index was back down $7.96 to $356.00 on December 26.
An afternoon update from APHIS showed several new cases of New World Screwworm, most listed in Veracruz (southern Mexico). There was an active bovine case in southern Tamaulipas, a state that borders the US, discovered on December 26.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday PM report, with the Chc/Sel spread narrowing to $5.04. Choice boxes were down another $1.13 to $348.20, while Select was $2.46 higher at $343.16. Tuesday’s USDA federally inspected cattle slaughter was estimated at 122,000 head, taking the week to date total to 240,000 head. That was 4,000 head below the week prior and 17,128 head above the same week last year.
Dec 25 Live Cattle closed at $231.175, up $2.275,
Feb 26 Live Cattle closed at $230.475, up $1.500,
Apr 26 Live Cattle closed at $230.975, up $1.450,
Jan 26 Feeder Cattle closed at $349.550, up $2.550,
Mar 26 Feeder Cattle closed at $344.575, up $2.900,
Apr 26 Feeder Cattle closed at $343.425, up $3.000,
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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