Live cattle futures are trading with $1.44 to $1.55 losses on Wednesday. Early cash trade this week has been quiet with a few light sales of $246 floating around in KS, but not enough for a trend. The Wednesday morning Fed Cattle Exchange showed no sales on the 1,226 head offered, with bids of $246-246.50. Feeder cattle futures are showing 17 cent to $1.55 losses at Wednesday’s midday. The CME Feeder Cattle Index was down $1.32 to $374.37 on April 20.
The Tuesday update from APHIS on the New World Screwworm showed active cases in Mexico at 1,395. There were 102 active cases in the bordering state of Tamaulipas, with 5 reported in Nuevo Leon.
Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel at $5.17 premium for select. Choice boxes were up $1.09 to $385.09, while Select was $3.06 higher at $390.26. USDA estimated federally inspected cattle slaughter at 111,000 head for Tuesday, with the week to date total at 208,000 head. That is down 8,000 head from last week and 17,274 head below the same week last year.
Apr 26 Live Cattle are at $246.025, down $1.400,
Jun 26 Live Cattle are at $242.000, down $1.550,
Aug 26 Live Cattle are at $238.275, down $1.425,
Apr 26 Feeder Cattle are at $366.400, down $0.175
May 26 Feeder Cattle are at $357.000, down $1.550
Aug 26 Feeder Cattle are at $357.525, down $1.425
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.
