Live cattle futures are sliding on Thursday with midday losses of $1.72 to $1.90. Cash trade has been quiet so far this week. The Thursday morning Fed Cattle Exchange online auction showed no sales on the 1,026 head offered, with bids of $232-235. Feeder cattle futures are falling $2.12 to $5.60 in the front months. The CME Feeder Cattle Index was up a penny to $358.32 on March 17.
After last week’s multi year high in beef export sales, USDA reported just 3,207 MT in the week ending on 3/12, the lowest sales total for any week since October 2023. Shipments were 13,571 MT in that week.
Wholesale Boxed Beef prices were lower in the Thursday morning report, with the Chc/Sel spread at $6.74. Choice boxes were down $1.33 to $400.42, while Select was $2.49 lower to $393.68. USDA estimated federally inspected cattle slaughter for Wednesday at 105,000 head, with the week to date total at 308,000 head. That is down 9,000 head from last week and 20,077 head below the same week last year.
Apr 26 Live Cattle are at $233.675, down $1.725,
Jun 26 Live Cattle are at $232.225, down $1.775,
Aug 26 Live Cattle are at $229.775, down $1.825,
Mar 26 Feeder Cattle are at $356.600, down $2.125
Apr 26 Feeder Cattle are at $349.050, down $4.775
May 26 Feeder Cattle are at $344.300, down $5.575
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.
