Live cattle futures were down $3 to $3.50 in most contracts at the close. Cash trade got kicked off with some $383 dressed in the North, with some $244-245 live. Southern bids have been $245 The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,456 head offered and bids at $244-245.50. Feeder cattle futures were $4.65 to $5.40 lower at the Thursday close. The CME Feeder Cattle Index was down $1.62 to $373.17 on February 24.
The weekly update from APHIS showed 8 new cases of New World Screwworm in Tamaulipas in the last week ending on November 25, taking the total active cases in that bordering state to 10 (including 7 bovine).
Beef export sales data showed 12,902 MT sold in the week ending on 2/19, a 6-week low. Japan was the top buyer at 4,500 MT, with 1,900 MT sold to Mexico. Shipments were 13,306 MT, which was slightly below the week prior. South Korea was the top buyer of 3,900 MT, with 3,100 MT sold to Japan.
Wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with the Chc/Sel spread narrowing to $7.10. Choice boxes were down $1.34 to $377.89, while Select was $3.72 higher to $370.79. USDA estimated Thursday’s federally inspected cattle slaughter at 103,000 head, taking the weekly total to 427,000 head. That is even with last week but 33,333 head below than the same week last year.
Feb 26 Live Cattle closed at $246.000, unch,
Apr 26 Live Cattle closed at $236.900, down $3.375,
Jun 26 Live Cattle closed at $233.400, down $3.300,
Mar 26 Feeder Cattle closed at $361.650, down $4.650,
Apr 26 Feeder Cattle closed at $358.750, down $5.275,
May 26 Feeder Cattle closed at $355.300, down $5.350,
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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