Live cattle futures are rallying another $1.60 to $2 on Wednesday. Cash trade has yet to get kicked off this week. Last week was strong, at $203 in the South, with Northern action at $205-206. This morning’s Fed Cattle Exchange online auction showed no sales on the 1,258 head offered, with a couple bids at $200-201.
Feeder cattle futures are trading with $2.05 to $2.25 gains at Wednesday’s midday. The CME Feeder Cattle Index was back up $0.84 on March 17, with the average price at $284.11.
USDA’s National Wholesale Boxed Beef report was mixed on Wednesday morning, as the Chc/Sel widened to $21.11. Choice boxes were up $6.02 at $329.34/cwt, with Select $1.00 lower at $308.23. Tuesday’s Federally inspected cattle slaughter was estimated at 123,000 head by USDA, with the week to date total at 237,000 head. That is 2,000 head below the previous week, and down 2,868 from the same week last year. Wednesday kill will likely be impacted by a blizzard in part of NE and IA today.
Apr 25 Live Cattle are at $207.050, up $1.675,
Jun 25 Live Cattle are at $203.000, up $2.000,
Aug 25 Live Cattle are at $200.375, up $1.675,
Mar 25 Feeder Cattle are at $287.025, up $2.050
Apr 25 Feeder Cattle are at $286.725, up $2.175
May 25 Feeder Cattle are at $287.475, up $2.225
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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