Live cattle futures are showing $3.35 to $3.90 so far on Wednesday. Cash trade has been limited so far, with last week at $260 to $265 across the country. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,008 head offered, with bids of $255. Feeder cattle futures are trading with $5.45 to $6.05 gains across the front months on Wednesday. The CME Feeder Cattle Index was up $1.36 to $371.49 on May 25.
The Tuesday APHIS update on the New World Screwworm showed a total of 1,970 active cases of in Mexico as of Monday. There were 168 active cases in the bordering state of Tamaulipas (10 within a range of 79-96 miles of the US border), 96 active in Nuevo Leon (17 within a range of 57-99 miles of the US border), and 15 in Coahuila (5 within 55-80 miles of the US border).
The Monday Crop Progress report showed US pasture ratings at 29% in good/excellent category, up 1% from last week. The inclusive Brugler500 index was steady at 267 (100-500 point scale).
Wholesale Boxed Beef prices were higher in the Wednesday AM report, with the Chc/Sel spread at $1.35. Choice boxes were up $4.02 to $396.92, while Select was $5.27 higher at $395.57. USDA estimated federally inspected cattle slaughter for Tuesday at 111,000 head, with the weekly total at 112,000 head. That was down 7,704 head from the same Memorial Day Week last year.
Jun 26 Live Cattle are at $251.875, up $3.650,
Aug 26 Live Cattle are at $243.050, up $3.900,
Oct 26 Live Cattle are at $234.300, up $3.350,
Aug 26 Feeder Cattle are at $355.500, up $6.050
Sep 26 Feeder Cattle are at $352.650, up $5.625
Oct 26 Feeder Cattle are at $349.350, up $5.450
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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