Live cattle futures are 20 to 55 cents higher in the front months at Wednesday’s midday. Cash trade has been slow this week. Last week’s cash movement was up $7-8 to $210 in the South and $212-216 in the North. The Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,328 head listed and bids of $205-208.50 Feeder cattle futures are trading with 90 cent to $1 gains in most contracts, as soon to expire March is down 20 cents. The CME Feeder Cattle Index was back up 26 cents on March 24, with the average price at $287.25.
Monthly Cold Storage data showed beef stocks of 428.13 million lbs at the end of February. That was a decline of 5.92% from the previous month and 2.27% below the same month last year.
Wednesday morning’s National Wholesale Boxed Beef report from USDA showed higher price movement, as the Chc/Sel was at $20.93. Choice boxes were up $2.77 at $337.96/cwt, with Select up $2.98 to $317.03. The Tuesday Federally inspected cattle slaughter was estimated at 124,000 head by USDA, taking the week to date total to 243,000 head. That is 6,000 head above the previous week and up 3,407 head from the same week last year.
Apr 25 Live Cattle closed at $206.775, up $0.400,
Jun 25 Live Cattle closed at $202.850, up $0.525,
Aug 25 Live Cattle closed at $199.150, up $0.275,
Mar 25 Feeder Cattle closed at $286.775, down $0.200,
Apr 25 Feeder Cattle closed at $285.800, up $0.950,
May 25 Feeder Cattle closed at $285.100, up $0.975,
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
- Hog Futures Market Is Buffeted by U.S. Pork Export Concerns. Can Bullish Domestic Fundamentals Save the Day?
- If June Live Cattle Futures Cross Below $200, Watch These Levels Next
- Cattle Market Bulls May Be on Borrowed Time. Here’s How to Play Cattle Futures Now.
- Livestock Futures Hit Hard by Trump’s New Tariffs. Why Markets Are Likely Overreacting.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
