Live cattle futures saw marginal gains of 17 to 60 cents in the front months on Wednesday. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,602 head offered, with bids of $237. Cash trade has been slow this week, with last week at $238-240. Feeder cattle futures were up $1.35 to $2.15 on the day. The CME Feeder Cattle Index was back down 44 cents to $374.57 on February 3.
Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel spread at $5.93. Choice boxes were down $2.69 to $368.02, while Select was $5.14 lower at $362.09. USDA reported federally inspected cattle slaughter at 113,000 head for Wednesday, with the weekly total at 336,000 head. That is 12,000 head above last week but 20,175 head shy of the same week last year.
Feb 26 Live Cattle closed at $240.525, up $0.200,
Apr 26 Live Cattle closed at $241.800, up $0.175,
Jun 26 Live Cattle closed at $237.225, up $0.600,
Mar 26 Feeder Cattle closed at $370.075, up $2.150,
Apr 26 Feeder Cattle closed at $367.500, up $1.625,
May 26 Feeder Cattle closed at $363.750, up $1.350,
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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