Live cattle futures saw higher trade into the close, with contracts up 45 cents to 90 cents. Cash trade has been quiet so far this week. The Thursday Fed Cattle Exchange auction showed no sales on the 1,394 head offered, with limited bids of $245-246 at $249 live. Feeder cattle futures closed with 30 to 65 cent losses across the front months on Thursday. The CME Feeder Cattle Index was up 90 cents to $376.92 on February 18.
Wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with the Chc/Sel spread widening to $5.38. Choice boxes were back up $1.37 to $365.17, while Select was 84 cents lower to $359.79. USDA estimated Thursday’s federally inspected cattle slaughter at 112,000 head, taking the weekly total to 427,000 head. That is 27,000 head above last week and 14,584 head below the same week last year.
Feb 26 Live Cattle closed at $247.500, up $0.900,
Apr 26 Live Cattle closed at $243.425, up $0.900,
Jun 26 Live Cattle closed at $238.875, up $0.450,
Mar 26 Feeder Cattle closed at $370.275, down $0.300,
Apr 26 Feeder Cattle closed at $367.650, down $0.350,
May 26 Feeder Cattle closed at $363.575, down $0.650,
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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