Live cattle futures are slipping back 17 to 30 cents in the front months on Wednesday. Cash trade has been quiet so far this week. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,026 head offered, with bids of $233-234. Feeder cattle futures are falling back $1.50 to $1.75 at midday. The CME Feeder Cattle Index was down another $1.30 to $357.05 on March 13.
The Tuesday update from APHIS on New World Screwworm south of the border showed 1,025 active cases in Mexico. Of that, 28 are in the bordering state of Tamaulipas
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel spread at $6.00. Choice boxes were down 78 cents to $402.53, while Select was 19 cents lower to $396.53. USDA estimated federally inspected cattle slaughter for Tuesday at 109,000 head, with the week to date total at 207,000 head. That is down 4,000 head from last week and 30,219 head from the same week last year.
Apr 26 Live Cattle are at $234.950, down $0.275,
Jun 26 Live Cattle are at $233.450, down $0.250,
Aug 26 Live Cattle are at $231.150, down $0.175,
Mar 26 Feeder Cattle are at $358.175, down $1.625
Apr 26 Feeder Cattle are at $353.075, down $1.725
May 26 Feeder Cattle are at $348.925, down $1.700
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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