Cattle Back to Higher Trade on Wednesday

Live cattle futures are up 55 to 87 cents at Wednesday’s midday. Cash trade has started this week with very light action at $201 in KS reported today. The Wednesday Central Stockyards Fed Cattle Exchange online auction showed sales on one lot of the 858 head offered at $202.50 using the BidTheGrid™ method. Other bids were reported at $200. Feeder cattle futures are trading with 57 cents to $1.125. The CME Feeder Cattle Index was back up $1.01 from the day prior at $278.31 on January 13. 

USDA wholesale Boxed Beef prices were mixed in the Wednesday AM report, with the Chc/Sel spread widening back out to $17.15. Choice boxes were up $1.43 at $334.41/cwt, with Select $1.45 lower @ $317.26. USDA estimated federally inspected cattle slaughter for Tuesday at 125,000 head, taking the weekly total to 242,000 head. That is 7,000 above last week and up 25,644 head from the same week last year.

Feb 25 Live Cattle  are at $197.950, up $0.550,

Apr 25 Live Cattle  are at $199.000, up $0.850,

Jun 25 Live Cattle  are at $193.075, up $0.875,

Jan 25 Feeder Cattle  are at $274.675, up $0.575

Mar 25 Feeder Cattle  are at $269.325, up $1.125

Apr 25 Feeder Cattle  are at $269.600, up $1.050

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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