Live cattle futures held the Thursday gains into the close, up 40 cents to $1.05. Cash trade has kicked off this week at $202-203 in the South, down $3, though the rest of the country has been quiet. Middy bids on Thursday are $202-203. The Thursday version of the Central Stockyards Fed Cattle Exchange online auction saw no sales on the 595 head, with bids at $200-203. Feeder cattle futures closed with $2.55 to $3.00 gains on Thursday. The CME Feeder Cattle Index was down $1.31 on February 11 to $274.42
USDA’s Export Sales report showed a total of 13,098 MT of beef sold in the week of 2/6, down 47.41% from last week. South Korea was the buyer of 7,400 MT, with Japan buying 2,700 MT. Export shipments totaled 14,901 MT in that week. Of that total, 4,800 MT was shipped to South Korea and 3,600 MT to Japan.
USDA’s National Boxed Beef report was mixed in the Thursday afternoon report, with the Chc/Sel spread narrowing to $7.56. Choice boxes were down $1.86 at $317.40/cwt, with Select 70 cents higher to $309.84. The Thursday Federally inspected cattle slaughter was estimated at 117,000 head according to the USDA, taking the week to date total to 454,000 head. That is down 22,000 head from last week and 31,607 head below the same week last year.
Feb 25 Live Cattle closed at $199.550, up $0.400,
Apr 25 Live Cattle closed at $196.525, up $0.800,
Jun 25 Live Cattle closed at $192.425, up $1.050,
Mar 25 Feeder Cattle closed at $267.975, up $3.000,
Apr 25 Feeder Cattle closed at $267.975, up $2.725,
May 25 Feeder Cattle closed at $266.300, up $2.550,
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.
