
Live cattle are trading with midday gains of $2.10 to $2.80 on Wednesday, as February spiked to $200 a new all-time high for the spot contract. A few early cash sales have come in at $201 in the South, with some at $202, steady to $1 higher from last week. Wednesday’s Fed Cattle Exchange online auction from Central Stockyards showed sales of $201.50-202 live and $201.50-$202.50 using the BidTheGrid™ method. Feeder cattle futures are up $2.20 to $5.70 at midday. The CME Feeder Cattle Index was back down 90 cents from the day prior at $278.02 on January 20.
USDA wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel spread widening to $13.42. Choice boxes were down 19 cents at $331.86/cwt, with Select $1.11 lower @ $318.44. USDA estimated federally inspected cattle slaughter on Tuesday at 124,000 head, taking the weekly total to 239,000 head. That is 3,000 head below last week and up 2,404 head from the same week last year.
Feb 25 Live Cattle are at $199.850, up $2.800,
Apr 25 Live Cattle are at $199.525, up $2.200,
Jun 25 Live Cattle are at $194.750, up $2.100,
Jan 25 Feeder Cattle are at $276.600, up $2.200
Mar 25 Feeder Cattle are at $272.950, up $5.700
Apr 25 Feeder Cattle are at $271.000, up $4.525
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.