Live cattle futures saw gains of 70 cent to $1.02 at the Tuesday close. Preliminary open interest was down 2,358 contracts. Cash trade was late last week, with Southern action at $244 and Northern sales from $239-243. Nothing has been reported so far this week. Feeder cattle futures were steady to 20 cents in the red on Tuesday. OI was down 904 contracts. The CME Feeder Cattle Index was down another $2.23 to $369.59 on March 2.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread widening to $9.47. Choice boxes were up $6.71 to $388.05, while Select was $0.37 higher to $378.58. USDA estimated federally inspected cattle slaughter for Tuesday at 109,000 head, with the week to date total at 211,000 head. That is 6,000 head below the previous week and 14,835 head shy of the same week last year.
Apr 26 Live Cattle closed at $234.125, up $1.025,
Jun 26 Live Cattle closed at $230.675, up $1.025,
Aug 26 Live Cattle closed at $228.900, up $0.725,
Mar 26 Feeder Cattle closed at $357.200, down $0.075,
Apr 26 Feeder Cattle closed at $353.300, down $0.025,
May 26 Feeder Cattle closed at $349.350, down $0.125,
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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