Live cattle futures are down $1.45 to $1.75 on Wednesday. Cash trade has yet to get kicked off this week. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,024 head offered, as bids were $233-235 live and $369 in the beef. Feeder cattle futures are up 50 cents in soon to expire March, with other contracts down $1.50 to $2.15. The CME Feeder Cattle Index was back up 26 cents to $361.59 on March 23.
The Tuesday APHIS update on new world screwworm showed 33 active cases in the bordering Mexican state of Tamaulipas.
Cold Storage data was out on Tuesday afternoon, with 413.34 million lbs of beef stocks on February 28, the lowest since 2014.
Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel heading to an inverted $5.03. Choice boxes collapsed $7.91 to $392.00, while Select was $2.53 higher at $397.03. USDA estimated federally inspected cattle slaughter on Tuesday at 107,000 head, with the weekly total at 212,000 head. That was up 9,000 head from last week but 31,286 head below the same week last year.
Apr 26 Live Cattle are at $233.700, down $1.675,
Jun 26 Live Cattle are at $232.875, down $1.725,
Aug 26 Live Cattle are at $230.625, down $1.475,
Mar 26 Feeder Cattle are at $360.800, up $0.500
Apr 26 Feeder Cattle are at $352.300, down $2.150
May 26 Feeder Cattle are at $349.075, down $1.625
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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