Live cattle futures are up another 45 to 50 cents so far across the front months on Friday. Cash trade has kicked off at $208 in the south, with a few at $209. Northern sales have been near $210 live and $330 in the beef. Feeder cattle futures are $1.70 to $2.00 higher so far at midday. The CME Feeder Cattle Index was up another $1.62 from the day prior at $281.07 on January 29.
Ahead of the Friday afternoon annual Cattle Inventory report, the trade is looking for all cattle and calves down 0.9% from last year, with the calf crop down 1.5%. Beef cow inventory was seen down 0.7%, with replacement heifers expected to be up 1.3%.
USDA wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel spread @ $11.31. Choice boxes were up 8 cents at $327.56/cwt, with Select 35 cents lower at $316.25. USDA estimated federally inspected cattle slaughter at 122,000 head on Thursday, taking the weekly total to 484,000 head. That is 2,000 head below last week and down 16,942 head from the same week last year.
Feb 25 Live Cattle are at $204.950, up $0.475,
Apr 25 Live Cattle are at $201.950, up $0.450,
Jun 25 Live Cattle are at $196.225, up $0.450,
Mar 25 Feeder Cattle are at $275.125, up $1.925
Apr 25 Feeder Cattle are at $274.250, up $1.925
May 25 Feeder Cattle are at $272.000, up $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.More news from Barchart
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